Trinity Solar Announces Growth Investment from TSG Consumer Partners
WALL, N.J. and SAN FRANCISCO, CA – August 1st, 2023 – Trinity Solar ("Trinity” or the “Company”), a leading home services platform in the Northeast specializing in renewable energy solutions including residential solar, battery storage and energy services, and TSG Consumer Partners (“TSG”), a leading private equity firm focused on the consumer sector, today announced that TSG has made an investment in Trinity Solar. Trinity Solar management will remain in their current roles and continue to lead the Company through its next phase of growth. Financial terms of the transaction were not disclosed.
Founded in 1994, Trinity Solar is a premier provider of cost-effective, low-maintenance solar, home battery and electric vehicle charging solutions for families in the United States. Today, Trinity Solar employs over 2,700 professionals dedicated to simplifying the solar journey and has brought solar power to nearly 100,000 homes helping customers save money on their energy consumption across 10 states, including Connecticut, Delaware, Florida, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island.
“Partnering with TSG is a fantastic opportunity for Trinity Solar to support our continued expansion, better serve new and existing customers and accelerate the positive impact we make on our planet every day,” said Tommy Pollock, Chief Executive Officer of Trinity Solar. “TSG shares our vision to make solar energy accessible to as many people as possible and today’s milestone is a testament to the strength of the family-run business that we have built. I look forward to continuing to lead Trinity Solar along with my brother Billy and John Bedard, leveraging TSG’s resources and digital and consumer expertise to help accelerate our momentum while continuing to deliver positive, individualized experiences to the households we are creating a difference for.”
“Trinity Solar is empowering households to take control of their energy needs, protect themselves against power outages and reduce their carbon footprint,” said Michael Layman, Managing Director at TSG. “We’ve been impressed by Trinity’s evolution into one of the largest players in the nation amid strong industry tailwinds. Its customer-centric approach simplifies the solar journey for families and helps them reduce their costs.”
Dan Costello, Managing Director at TSG, commented, “Tommy, Billy and John have built an incredible family franchise and true market leader, and we look forward to partnering with them and the entire Trinity Solar organization to enhance and grow Trinity Solar’s platform, customer offerings and positive impact on the planet.”
Ropes & Gray LLP acted as legal advisor to TSG. Prestwick Partners acted as financial advisor to Trinity Solar and Blank Rome LLP acted as legal advisor.
About Trinity Solar
Founded in 1994, Trinity Solar is a leading privately-held provider of residential solar, battery storage and energy services. Spread across 10 states, our expert teams include over 2,700 employees dedicated to making your solar journey simple. By the end of 2023, more than 100,000 homeowners will have joined us to create a brighter future with solar and, together, we’re making a difference. For more information, visit www.trinity-solar.com.
About TSG Consumer Partners
TSG Consumer Partners, LP is a leading private equity firm with approximately $20 billion in assets under management that partners with founders and management teams to build and accelerate growth for best-in-class consumer-facing businesses. Since its founding in 1986, TSG has been an active investor in the consumer industry. Representative past and present partner companies include Backcountry, Canyon Bicycles, Duckhorn, Dutch Bros, e.l.f. Cosmetics, IT Cosmetics, Joe Hudson’s Collision Centers, Mavis Tires, Planet Fitness, popchips, Power Stop, Radiance Holdings, REVOLVE, Revolut, Robinhood, Rough Country, Smashbox, Super Star Car Wash, Stumptown, The Wrench Group, Thrive Pet Healthcare, and Vitaminwater. For more information, visit tsgconsumer.com.
Contact Information
For Trinity Solar:
Ed Merrick/Kristen Drigon
PressInquiries@trinity-solar.com
For TSG Consumer Partners:
FGS Global
Brandon Pinto/Miranda Dunne