Kirkland & Ellis counseled the investment team at Greenbelt Capital Partners, as lead investor in a consortium of investors which invested in ION Solar, LLC, a leading provider of rooftop solar sales and installations. Investors in the transaction included Trilantic Energy Partners II North America, Blackstone Credit and Energy Impact Partners (EIP). Since its founding in 2013, ION has grown to be a top 10 residential rooftop solar contractor in the United States with operations in eight states and over 200 MW installed across more than 30,000 households. Matthew Rasmussen, David Rasmussen and Jeremy Call, the founders of ION, will continue to own a majority equity stake in the business and will lead the Company through its next phase of growth.
The Kirkland team was led by corporate partners Shubi Arora, Jhett Nelson and Leon Johnson and associates Adam Ott, Emma Balls and Niki Namazi; tax partners Vincent Thorn and Liam Murphy; regulatory partner Olivia Adendorff; labor and employment partner R.D. Kohut and associate Anusheh Khoshsima; executive compensation partners Jabir Yusoff and Stephen Jacobson; employee benefits partner Maureen O’Brien and associate Iris Grossman; technology and IP transactions partner Shellie Freedman and associate Josefin Sjoestroem; and rep and warranty insurance partner Hayley Hollender.