ADT - ADT acquires Sunpro Solar and expands residential footprint by launching ADT Solar

ADT (NYSE:ADT) trades 2.2% higher premarket after announcing an agreement to acquire Sunpro Solar, U.S.-based residential rooftop solar contractors, for $160M in cash plus ~77.8M shares implying a total enterprise value of ~$825M. ADT will rebrand Sunpro to “ADT Solar” and enter the rooftop solar business to offer ADT customers a protected, connected, and now powered home. "By combining a cash-flow-positive company in the high-growth solar space with ADT's trusted brand, national footprint, and cross-sell potential, we can expand offerings to our customers and accelerate growth for both ADT and ADT Solar," president & CEO Jim DeVries commented. Transaction is expected to be positive to EBITDA and free cash flow immediately and accretive to EPS within the first 12 months, prior to any synergy realization. Under the acquisition, ADT will assume ~$20M in vehicle loans and leases; all other existing Sunpro debt will be retired with the cash proceeds received from ADT at closing. Residential solar

For further details see:

ADT acquires Sunpro Solar and expands residential footprint by launching ADT Solar