Baird Capital has acquired a majority stake in UK-based CAV, a provider of ice protection and drug reduction technology for general aviation, commercial aerospace and defense markets. No financial terms were disclosed. In addition to the investment, James Benfield and Dennis Hall, managing directors at Baird Capital, have been named to CAV’s board of directors.
PRESS RELEASE
LONDON, 2 June 2017 – Baird Capital, the direct private investment arm of Robert W. Baird & Co., announced today that it has acquired a majority interest in CAV Ice Protection Limited and CAV Advanced Technologies Ltd (CAV). CAV is a leading provider of ice protection and drag reduction technology to general aviation, commercial aerospace and defence markets worldwide. As part of the transaction, Baird Capital Managing Directors James Benfield and Dennis Hall will join the CAV board of directors.
CAV is headquartered in Consett, County Durham. The Company’s proprietary Ice Protection systems provide a unique solution to a critical safety challenge across numerous segments of the aerospace market. CAV is also a technology and manufacturing partner to major commercial OEMs for hybrid laminar flow control (HLFC) drag reduction systems.
“CEO Owen McFarlane and the CAV team’s focus on delivering products that drive safety and efficiency are a perfect fit with our thesis-based investment approach. CAV’s leading positions in ice protection and drag reduction have established the company as an aviation and aerospace industry technology leader. Our investment and global resources will help drive key product initiatives and accelerate CAV’s further penetration of the aviation and aerospace market” said James Benfield, Partner, Baird Capital.
Owen McFarlane, CAV CEO commented “We are excited to work alongside Baird Capital. Their global resources and expertise will be valuable as we focus on driving future innovation and growth”.
About CAV Ice Protection and CAV Advanced Technologies Ltd
CAV is a business with unique technology and “know how” in the niche aerospace segments of ice protection and drag reduction. CAV Ice Protection is a world leader in the supply and development of Ice protection systems, it is the only supplier of fluid based ice protection systems globally, operating from facilities in the UK & US. CAV Advanced Technologies is the leading supplier of laser perforated surfaces for use in both ice protection and HFLC systems into the aviation industry in the world. It operates out of the UK.
About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 300 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.
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