Sunlight Financial to be led by company veteran after restructuring

Solar and home improvement finance company Sunlight Financial Holdings Inc has appointed a company veteran as chief executive in the wake of emerging from restructuring.

Sunlight will be led by Timothy Parsons, currently chief operating officer at the company, while former chief executive Matt Potere will assume a strategic advisory role, it said on Thursday.

The firm, which partners with contractors across the US to provide homeowners with financing for solar systems and other home improvements, announced last month it has completed its Chapter 11 restructuring process. Sunlight was acquired by a consortium of investors, including an affiliate of Greenbacker Capital Management, Sunstone Credit, IGS Ventures, as well as its secured lender, Cross River Bank.

“As I step into this new role, the rest of the leadership team and I will continue to deepen our relationships with contractors and capital providers, drive innovation and value at every turn, and ensure Sunlight’s long-term success,” Parsons vowed.

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