NEW YORK, July 12, 2021 /PRNewswire/ — Tiger Infrastructure announced that Sunlight Money (“Daylight”), a leading, know-how-enabled place-of-sale financing firm, accomplished its formerly-introduced small business blend (the “Enterprise Blend”) with Spartan Acquisition Corp. II (“Spartan”) (NYSE: SPRQ), a publicly-traded unique function acquisition company sponsored by cash managed by an affiliate of Apollo Worldwide Management, Inc. (NYSE: APO) (with each other with its consolidated subsidiaries, “Apollo”).
The blended business is named Daylight Economic Holdings Inc. and on July 12, 2021 its popular inventory began investing on the New York Stock Exchange (“NYSE”) less than the ticker symbol “SUNL”. Sunlight Monetary LLC will be the new community holding firm’s sole working subsidiary and Sunlight’s current administration workforce will proceed to direct the enterprise.
Tiger Infrastructure, Sunlight’s original institutional shareholder, has worked closely with Daylight since the commencing of its superior development journey. Sunlight offers financial loans as a result of channel partners to property owners for the installation of rooftop photo voltaic and other household infrastructure these as batteries and a variety of house enhancements. At the time of Tiger’s investment decision, Sunlight experienced one channel associate. Right now, Sunlight has about 1,000 channel associates by way of which it has enabled in excess of 100,000 photo voltaic strength systems by supplying about $4 billion in financial loans. Tiger Infrastructure continues to be the premier trader following the merger.
Emil W. Henry, Jr, CEO of Tiger Infrastructure and Chairman of the Board of Sunlight, explained: “Prior to our expense in Daylight, Tiger was captivated to the solar power sector supplied the solid market tailwinds and the prospective buyers for continued US growth and penetration. Immediately after significantly study, we observed the ideal return likely, constant with our expansion infrastructure concentrate, in Sunlight’s easy nonetheless sturdy business enterprise design which results in regular, reputable very long-time period funds flows from the financial loans it provides to higher good quality counterparties. Matt and his staff have executed with excellent talent to make Sunlight a foremost participant in their core photo voltaic markets, and they have demonstrated the means to ably penetrate adjacent marketplaces these kinds of as batteries and household enhancements.”
Marc Blair, Running Director of Tiger Infrastructure, included: “Congratulations to the Sunlight staff for their amazing results. The management crew at Sunlight has deep roots in analyzing credit, a essential success factor for point-of-sale bank loan providers, and they have confirmed them selves adept at implementing that skillset as they have productively expanded their first platform from just one utility-owned channel husband or wife at the outset and penetrated adjacent markets outside of solar belongings.”
Matt Potere, CEO of Daylight, claimed: “We enormously recognize our productive affiliation with Tiger Infrastructure. It was normal and natural that Tiger would develop into Sunlight’s to start with institutional shareholder. Sunlight healthy Tiger’s expansion mandate, and in Tiger I saw a price-include lover with deep and relevant practical experience and with a handy, arms-on tactic. My workforce and I are wanting ahead to continuing functioning carefully with Tiger in the coming a long time.”
About Sunlight Money
Daylight Economical is a leading, engineering-enabled place-of-sale finance corporation. Sunlight companions with contractors nationwide to provide house owners with funding for the installation of household solar devices and other house enhancements. Sunlight’s very best-in-course technological innovation and deep credit history know-how simplify and streamline shopper finance, ensuring a fast and frictionless approach for both of those contractors and homeowners. For far more facts, check out www.sunlightfinancial.com.
About Tiger Infrastructure Partners
Tiger Infrastructure Partners is a middle-market place personal fairness firm that invests in escalating infrastructure platforms. Tiger Infrastructure Partners targets investments in communications, energy transition, transportation, and associated sectors, principally situated in North America and Europe. For much more details, visit www.tigerinfrastructure.com.
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