- Unirac’s existing backer Tenex Capital Management will continue to own a significant stake in the business
- Cowen and Lazard served as financial advisors to Unirac on the transaction
- Unirac was founded in 1999
Greenbelt Capital Partners led a majority recapitalization of Albuquerque, New Mexico-based Unirac, a maker of solar photovoltaic mounting solutions. No financial terms were disclosed.
Other investors in the transaction included Greenbelt Capital Partners Unirac L.P. and Trilantic Energy Partners II (North America) L.P. and its parallel fund.
Unirac’s existing backer Tenex Capital Management will continue to own a significant stake in the business.
Unirac was founded in 1999.
This investment will support Unirac’s continued pursuit of new product development and supply chain resiliency, further bolstering the company’s broad and innovative product portfolio.
Chris Murphy, a partner at Greenbelt, said in a statement, “We are excited to partner with Unirac’s executive team and Tenex to combine our significant experience in the solar and broader distributed energy sectors and support the continued growth of Unirac, which has consistently differentiated itself from the competition to become a leader in the space.”
Kirkland & Ellis LLP served as legal counsel to Greenbelt and Trilantic in relation to the transaction. Cowen and Lazard served as financial advisors to Unirac in relation to the transaction and Koley Jessen PC, LLO acted as legal counsel.
Greenbelt Capital Partners backs infrastructure development across the energy sector. Greenbelt has committed approximately $4.6 billion of equity capital to multiple portfolio companies and consummated more than $58 billion of M&A and financings in over 210 transactions across the portfolio.
Trilantic Capital Management invests in the business services and consumer sectors. Trilantic North America has managed six private equity fund families with aggregate capital commitments of $9.7 billion.
Tenex Capital Management invests in middle-market companies.