Simpson Thacher is representing Vivint Solar in connection with its acquisition by Sunrun in an all-stock transaction representing a combined enterprise value of $9.2 billion. Vivint Solar stockholders are expected to own approximately 36% and Sunrun stockholders are expected to own approximately 64% of the combined company. The transaction is expected to be completed during the fourth quarter of 2020, subject to approval by Vivint Solar and Sunrun stockholders, regulatory approvals and other customary closing conditions.
Sunrun (NASDAQ: RUN) is the nation’s leading home solar, battery storage and energy services company. Founded in 2007, Sunrun pioneered home solar service plans to make local clean energy more accessible to everyone for little to no upfront cost. Sunrun’s innovative home battery solution, Brightbox, brings families affordable, resilient and reliable energy.
Vivint Solar (NYSE: VSLR) is a leading full-service residential solar provider in the United States. With the help of Vivint Solar, homeowners can power their homes with clean, renewable energy, typically achieving significant financial savings over time. Vivint Solar designs and installs solar energy systems for homeowners and offers monitoring and maintenance services.
The Simpson Thacher team includes Elizabeth Cooper, Brian Stadler, Michael Chao and Jiarui Li (M&A); Greg Grogan and Caitlin Fitzgerald (Executive Compensation and Employee Benefits); Drew Purcell and Sophie Staples (Tax); Genevieve Dorment (Intellectual Property); and Adeeb Fadil and Noreen Lavan (Environmental).