Sunrun to Acquire Vivint Solar for Enterprise Value of $3.2 Billion

Establishes Sunrun as leading home solar and energy services company across the US

San Francisco – July 7, 2020 – Cooley advised Sunrun, a publicly traded, leading provider of residential solar, battery and energy services, on its agreement to acquire Vivint Solar in an all-stock transaction for an enterprise value of $3.2 billion. Partners Jamie Leigh, Ian Nussbaum and Calise Cheng led the Cooley team advising Sunrun on the transaction, which is expected to close in Q4.

With a shared mission to create a planet run by the sun, the companies will empower families to take control of their energy future by increasing customer choice in how they create and consume power.

“Americans want clean and resilient energy,” Lynn Jurich, Sunrun CEO and co-founder, said in a news release. “Vivint Solar adds an important and high-quality sales channel that enables our combined company to reach more households and raise awareness about the benefits of home solar and batteries. This transaction will increase our scale and grow our energy services network to help replace centralized, polluting power plants and accelerate the transition to a 100% clean energy future. We admire Vivint Solar and its employees and look forward to working together as we integrate the two companies.”

The acquisition adds a complementary direct-to-home sales channel to Sunrun’s platform, increasing the company’s reach and capabilities in a growing market. Vivint Solar’s highly trained, consultative field sales experts will be an important part of the combined platform and will serve as critical ambassadors for consumers to learn the benefits of solar energy.

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. The company can also manage and share stored solar energy from the batteries to provide benefits to households, utilities and the electric grid while reducing its reliance on polluting energy sources. Sunrun’s securities trade on the Nasdaq Global Select Market under the symbol “RUN.”

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Related Contacts
Jamie Leigh  Partner San Francisco
Ian A. Nussbaum  Partner New York
Calise Cheng  Partner Palo Alto
Daniel Han  Associate New York
Alessandra Murata  Partner Palo Alto
Benjamin D. Clark  Associate Washington, DC
Natalie D. Vernon  Associate Colorado
Ross Eberly  Partner Los Angeles
Timothy Shapiro  Associate Palo Alto
Jane Jeong  Associate New York
Eileen Marshall  Partner Washington, DC, Palo Alto
Daniel Lac  Associate San Diego
Wendy Brenner  Partner Palo Alto, Los Angeles
Barbara Mirza  Partner Los Angeles, Palo Alto
Adam Connolly  Partner San Francisco
TJ Graham  Partner Palo Alto
Isabelle Mackesey  Associate Palo Alto
Adriana Wirtz  Partner New York
Rachel F. Katz  Associate New York
Christopher Andrews  Associate New York
Michael Coburn  Associate New York
Patrick Flanagan  Partner New York