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Home Deal Tracker Solar Venture Capital Deals

Sunpro Solar Raises Capital from Compass, MGG, TGP and Millstone for Residential Solar Growth

Tim D by Tim D
October 22, 2020
in Deal Tracker, Solar Venture Capital Deals
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Sunpro Solar Raises Capital from Compass, MGG, TGP and Millstone for Residential Solar Growth - Renewable energy

residential solar capital raise

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Sunpro Solar, a top five U.S. residential solar supplier, announced today it secured investments from Compass Group Equity Partners, MGG Investment Group, LP (MGG), TGP Investments, and Millstone Capital Advisors.

Sunpro Solar works in 16 countries and has been rated No. 372 on the Inc. 5000 list of those countries fastest-growing privately held companies for 2020. As we’ve been covering, we believe there will be continued growth and consolidation in the residential solar installer markets.
We’re excited to partner with Compass Group and MGG to finish this transaction as we oppose our plans to bring cost effective renewable energy to homeowners nationwide. We’ve got a phenomenal team and unbelievable civilization at Sunpro, and this investment makes it possible for us to build both further. Marc Jones, CEO Sunpro Solar
Our research led us into the space, but it had been the Sunpro management team along with the companys outstanding performance that made the decision to spend a simple one. They’ve assembled a truly customer-focused firm with an exceptional workforce, and were thrilled to join Marc and the staff in furthering their growth and expansion efforts. John Huhn, Managing Director Compass Group
Kevin Griffin, MGGs Chief Executive Officer and Chief Investment Officer, said, As a pioneer in the residential solar market, Sunpro is changing energy efficiency and we’re excited to deliver the company with the resources it needs to fulfill with the marketplace’s demand. This investment highlights MGGs commitment to ESG investing and cooperating with companies focused on forcing sustainability. Moreover, we’re delighted to be partnering with Marc Jones and his talented management team as they continue to execute on their expansion plans and fortify their position in this expanding marketplace. Compass Groups Vice President Ed Place directed the attempt to explore the solar market, After years of exploration and more than a few dozen alternatives, the Sunpro investment chance became a clear choice due to their leadership at the space and world class systems and procedures. Operating Partner Marc Lee added, This is a tremendous chance for all parties to harness our collective funds and move forward with strategic initiatives to accelerate growth and continue building upon the successes Sunpro has achieved up to now. Sunpro Solar is a Platinum installer of LG Professional 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 more than 1,700 workers nationwide and expanding.
Tags: residential solarsolar dealssolar energysolar industrysolar investingsolar investment
Tim D

Tim D

Deep background and technical expertise in alternative energy with a focus on corporate development and funding innovation in the solar industry. Currently reporting on current trends and opportunities in solar and uncovering early and mid-stage companies poised to shift the way we produce and use energy.

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