GREENWICH, Conn.--(BUSINESS WIRE)--Littlejohn & Co., LLC (“Littlejohn”), a private investment firm based in Greenwich, CT, today announced that it has acquired Sunbelt Modular, Inc. (“Sunbelt” or the “Company”), a leading designer and manufacturer of modular solutions. Terms of the transaction were not disclosed.
Founded over 45 years ago, Sunbelt provides a robust suite of highly engineered structures for both custom and fleet applications serving a diverse set of commercial end markets. The Company will continue to be led by CEO Ron Procunier, an executive with over 35 years of experience in the modular industry, supported by a team of over 1,300 employees.
“We are thrilled to partner with Sunbelt and its dedicated team as they continue to build a market-leading modular manufacturing platform,” said Steven Kalter, Managing Director of Littlejohn. “The Company’s in-house technical expertise, comprehensive product offering, and national footprint positions it as a highly valued partner to their long tenured customer base. We look forward to expanding Sunbelt’s capabilities and geographic reach as it seeks to execute on its growth plan.”
“With over 20 years of experience in the building products sector, we have identified modular construction as one of the most compelling trends in the industry,” added Steven Raich, Managing Partner of Littlejohn. “Modular’s superior value proposition, underpinned by accelerated construction timelines, higher quality control, reduced waste and energy consumption, and improved worker safety is rapidly driving the adoption of modular construction across a variety of end markets. Sunbelt’s national scale, pristine reputation, and talented team presents a unique way to capitalize on this trend.”
Ron Procunier, CEO of Sunbelt, added, “Littlejohn has a strong track record of supporting and scaling businesses in the building products and manufacturing industries, and we are excited to have them as partners at this stage in the Company’s evolution. We look forward to leveraging Littlejohn’s portfolio support resources to accelerate our growth while maintaining best-in-class quality and service levels for our dealer customer base.”
Vestra Advisors served as sole financial advisor to Littlejohn. Robert W. Baird & Co. served as exclusive financial advisor to Sunbelt. Sheppard, Mullin, Richter & Hampton LLP provided legal counsel to Littlejohn.
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based investment firm focused on private equity and debt investments in growing middle-market industrial and services companies that can benefit from Littlejohn’s 25+ years of operational and sector expertise. With approximately $8 billion in regulatory assets under management, the firm seeks to build sustainable success for its portfolio companies through a disciplined approach to engineering change. For more information about Littlejohn, visit www.littlejohnllc.com.
