ADT To Expand Its Residential Footprint With Acquisition of Sunpro Solar and Launch ADT Solar™
Vinson & Elkins advised Sunpro Solar (Sunpro) in a transaction whereby ADT Inc., the most trusted brand in smart home and small business security, has agreed to acquire Sunpro, ranked #2 for 2021 Top Residential Rooftop Solar Contractors in the U.S., for $160 million in cash plus approximately 77.8 million shares of ADT common stock, implying a total enterprise value of approximately $825 million, subject to certain adjustments.
ADT will rebrand Sunpro to “ADT Solar™” and enter the rooftop solar business to offer ADT customers a protected, connected, and now powered home.
The V&E corporate team was led by partners Sarah Morgan and Mike Saslaw and senior associate Michael Gibson, with assistance from associates JP Lopez and Christina Wu. Other key team members included counsel Julia Petty; counsel Sarah Mitchell; and partners John Lynch and Lina Dimachkieh and senior associate Peter Rogers.
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