ADT Completes Acquisition of Sunpro Solar
ADT Inc. has announced it has completed its acquisition of Sunpro Solar. With the acquisition of Sunpro Solar, ADT is introducing ADT SolarTM, which will provide customers with rooftop solar and energy storage solutions to increase their energy independence and help them save money on their energy expenses. Sunpro currently operates in 22 states, and ADT Solar plans to expand to more markets across the U.S.
“The closing of this transaction and the introduction of ADT Solar unlocks our ability to respond to customer desire for sustainable energy solutions they can use independently or combine with ADT’s smart security systems for a safer, smarter and more sustainable home or business,” said Jim DeVries, ADT President and CEO. “We are especially pleased to have completed the transaction quickly, which allows us to swiftly begin to realize the great benefits of this combination for our customers, employees, and shareholders.”
“We have nearly 4 million ADT customers in our solar service area, and in a recent survey1, more than a quarter of ADT customers surveyed expressed interest in purchasing rooftop solar panels for their homes,” DeVries said. “This sizeable customer segment is an early opportunity for us to grow ADT Solar organically while also expanding to new customer markets for ADT Solar. I want to thank the dedicated teams at Sunpro and ADT for their incredible efforts in helping us reach this exciting milestone.”
As previously announced, Sunpro Solar founder Marc Jones and the Sunpro management team will now lead ADT Solar, with Jones serving as ADT Executive Vice President, Solar.
“We have a winning team and strategy in place with ADT Solar, and I expect us to continue our positive growth trajectory, by serving more customers in more places with an unbeatable and complementary package of smart home security plus renewable energy and energy storage solutions,” Jones said. “I look forward to leading ADT Solar for years to come as we build the business into the true rooftop solar industry leader.”