Baird Capital said Friday that its U.S. private equity group has acquired SloanLed. Financial terms weren’t announced. JZ Partners, Golub Capital and Hexagon Inc. coinvested in the deal. Golub also provided senior financing. Baird Capital is the direct private investment arm of Robert W. Baird & Co. Ventura, California-based SloanLed designs and makes LED lighting solutions.
VENTURA, Calif., May 1, 2015 – Baird Capital, the direct private investment arm of Robert W. Baird & Co., announced today that its U.S. Private Equity group has acquired SloanLED, a leading manufacturer of LED technology serving customers in many commercial and industrial markets. Senior financing for the transaction is being provided by Golub Capital. JZ Partner, Golub Capital and Hexagon, Inc., a private investment company, are co-investing alongside Baird Capital. The terms of the deal were not disclosed.
Headquartered in Ventura, Calif., with offices in North America, Europe and Asia, SloanLED designs and manufactures LED lighting solutions for a variety of applications including signage, spa, optoelectronics, refrigeration and down lighting.
“We have actively followed the lighting sector for the past few years and believe SloanLED is a strong platform business that is well positioned to become the leading global LED provider to the commerical and industrial end markets,” said Andrew Brickman, Baird Capital Partner.
Brickman will join SloanLED’s board of directors, along with Baird Capital Operating Partners Scott Hoffman and Dave Schroeder.
“SloanLED provides outstanding products and service to its customers,” said Hoffman. “We are excited to work with their very strong management team in driving the company’s next stage of global growth.”
“Our organization has a long history of creating innovative products for our customers,” said Steve Shotwell, President of SloanLED. “This is an exciting day for SloanLED customers and employees. We look forward to building on that experience and partnering with Baird Capital’s operating resources to continue to serve our customers globally.”
About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Since 1989, Baird Capital’s U.S. Private Equity group has invested in growing and profitable lower-middle-market companies in the Technology & Services, Healthcare, and Industrial sectors. Having invested in more than 285 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in Asia, a proactive portfolio operations team and a deep network of relationships which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit www.BairdCapital.com.
SloanLED is the leader in the development and application of Light Emitting Diode (LED) technology, serving customers in many commercial, architectural, and industrial markets. Founded in 1957, SloanLED is dedicated to providing the best LEDs and support, including some of the industry’s strongest warranties, superior technical assistance and unparalleled customer service. The company is headquartered in Ventura, Calif., with a European office located in The Netherlands. More information on our products can be found at SloanLED.com.