ST. LOUIS, Oct. 20, 2020 — Sunpro Solar, a top five U.S. residential solar provider, announced today it secured investments from Compass Group Equity Partners, MGG Investment Group, LP (“MGG”), TGP Investments, and Millstone Capital Advisors. Based in New Orleans, Sunpro Solar operates in 16 states and was ranked No. 372 on the Inc. 5000 list of the nation’s fastest-growing privately held companies for 2020.
“This investment will support Sunpro’s plans for continued growth and expansion across North America,” said Sunpro Solar Founder and CEO Marc Jones. “We’re excited to partner with Compass Group and MGG to complete this transaction as we solidify our plans to bring cost effective renewable energy to homeowners nationwide. We have a phenomenal team and incredible culture at Sunpro, and this investment allows us to build both even further.”
Managing Partner of St. Louis-based Compass Group Equity Partners, John Huhn, said the partnership is the result of a dedicated focus in the sector for over two years. “Our research led us to the space, but it was the Sunpro management team and the company’s exceptional performance that made the decision to invest an easy one. They’ve built a truly customer-focused company with an exceptional workforce, and we’re thrilled to join Marc and the team in furthering their growth and expansion efforts.”
Kevin Griffin, MGG‘s Chief Executive Officer and Chief Investment Officer, stated, “As a leader in the residential solar market, Sunpro is transforming the way we generate power. We are excited to provide the company with the resources it needs to meet the market’s demand. This investment highlights MGG’s commitment to ESG investing and collaborating with companies focused on driving sustainability. Moreover, we are thrilled to partner with Marc Jones and his talented management team as they continue to execute on their growth plans and strengthen their position in this expanding market.”
Compass Group’s Vice President Ed Place led the effort to explore the solar market, “After years of exploration and more than a few dozen alternatives, the Sunpro investment opportunity became a clear choice due to their leadership in the space and world class systems and processes.” Operating Partner Marc Lee added, “This is a tremendous opportunity for all parties to harness our collective resources and move forward with strategic initiatives to accelerate growth and continue building upon the successes Sunpro has achieved to date.”
Sunpro Solar is a Platinum installer of LG Pro Panels and Enphase Micro Inverters and a certified installer of the Tesla Powerwall. Sunpro Solar has quickly become the employer of choice for those in the industry with over 1,700 employees nationwide and growing. To learn more about Sunpro Solar, please visit https://www.adtsolar.com.
For more information, please visit Compass Group Equity Partners, MGG Investment Group, TGP Investments, and Millstone Capital Advisors. McGuireWoods acted as legal counsel to Compass Group Equity Partners, and Lincoln International served as exclusive financial advisor to Sunpro Solar. Proskauer Rose LLP and Schulte Roth & Zabel LLP served as legal counsel to MGG.
SOURCE Compass Group Equity Partners