Compass Group Equity Partners invests in Baja Carports
Compass Group Equity Partners has announced a strategic partnership with Baja Carports, a California-based national provider of solar support systems. Compass Group Equity Partners is a St. Louis-based private equity firm with a record of success in partnering with and building lower middle-market companies, and this is its second entry into the renewable energy sector.
Founded in 1981, Baja Carports designs, engineers, and installs solar-ready carports and covered RV canopies. Today, Baja can install solar support systems in every state in the United States and the territory of Puerto Rico. The company is unique with its pre-engineered and pre-fabricated design that uses high-tensile, pre-galvanized light-gauge steel or structural steel, all proudly made in the United States. Baja’s commitment to quality and sustainability makes it a standout in the rapidly expanding solar infrastructure sector.
Compass Group’s previous success in the renewable energy industry includes its investment in Sunpro Solar, which was acquired by ADT Inc. at exit in 2021 for a total transaction value of approximately $825 million.
“We’re excited to leverage the knowledge we gained from our first solar investment,” said John Huhn, managing partner at Compass Group. “Baja’s established reputation in the industry will be invaluable as we work together to scale operations further to service new customers via location expansion and enhanced sales and marketing efforts.”
Baja Carports is the first investment from Compass Group’s recently closed Fund III, which closed with commitments of $408 million in April this year. The fund saw strong carryover from existing limited partners, as well as new representation from insurance companies, endowments, registered investment advisors, and foundations.
“Through this partnership with Compass Group, Baja is well-positioned for growth, building upon our great reputation for high-quality carports and Compass Group’s past success in the solar space with SunPro,” explained Aric Nissen, CEO of Baja Carports.
Comments are closed here.