Sunbelt Modular Acquisition by Littlejohn & Co. Expands Modular Construction Trends
Deal News | Nov 04, 2024 | Littlejohn & Co.
Littlejohn & Co., a private investment firm based in Greenwich, Connecticut, has announced the acquisition of Sunbelt Modular, Inc., a manufacturer of modular construction solutions. Terms of the transaction remain undisclosed. Sunbelt, established over 45 years ago, is known for providing engineered structures for varied commercial markets, led by CEO Ron Procunier who brings over 35 years of industry experience. Littlejohn aims to expand Sunbelt's market presence and capabilities, driven by the increasing adoption of modular construction due to its benefits such as reduced construction time, waste, and enhanced quality. The deal underscores Littlejohn's investment strategy in supporting evolving businesses within the building products and manufacturing sectors. Key advisory roles were held by Vestra Advisors for Littlejohn, while Robert W. Baird & Co. advised Sunbelt.
Sectors
- Private Equity
- Modular Construction
- Building Products and Manufacturing
Geography
- United States – Both Littlejohn & Co. and Sunbelt Modular are based in the United States.
- Connecticut – Littlejohn & Co. is based in Greenwich, Connecticut.
Industry
- Private Equity – The article discusses a private equity firm's acquisition of Sunbelt Modular.
- Modular Construction – Sunbelt Modular is a company that specializes in the design and manufacturing of modular solutions.
- Building Products and Manufacturing – Littlejohn & Co. have a history of investing and scaling businesses in the building products and manufacturing sectors.
Financials
- Not Disclosed – The terms of the transaction between Littlejohn & Co. and Sunbelt Modular were not disclosed.
- $8 billion – Littlejohn & Co. has approximately $8 billion in regulatory assets under management.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Littlejohn & Co., LLC | Acquirer | Company | A private investment firm specializing in private equity and debt investments. |
| Sunbelt Modular, Inc. | Target | Company | A leading designer and manufacturer of modular solutions. |
| Vestra Advisors | Financial Advisor to Littlejohn | Company | Advised Littlejohn & Co. in the acquisition. |
| Robert W. Baird & Co. | Financial Advisor to Sunbelt | Company | Provided financial advisory services to Sunbelt Modular, Inc. |
| Sheppard, Mullin, Richter & Hampton LLP | Legal Counsel | Company | Provided legal counsel to Littlejohn & Co. |