Pfingsten exits ILP

Harbour Group has acquired Sanford, Florida-based ILP, a maker of energy efficient industrial, commercial and outdoor LED lighting fixtures. The seller was Pfingsten. No financial terms were disclosed. Lincoln International provided financial advice to ILP on the deal.

PRESS RELEASE

Chicago, IL – April 4, 2017 – Pfingsten announces the sale of ILP to Harbour Group. ILP, headquartered in Sanford, FL, is a manufacturer of energy efficient industrial, commercial and outdoor LED lighting fixtures. The company’s products can be found in warehouses, manufacturing facilities, offices, schools and parking lots throughout the country. “Pfingsten’s operational focus and global capabilities were key to our success,” said ILP CEO, Jason Hendren. “Pfingsten provided the necessary operational and capital resources to accelerate our organization’s organic growth through enhanced product innovation, international sourcing capabilities, geographical expansion and sales agent development.”

“Our collaboration with ILP clearly demonstrates the value in Pfingsten’s operational approach to investing,” said Scott Finegan, Pfingsten Managing Director. “The significant investments in new products, facilities, agents and associates will benefit ILP’s customers for many years to come.” “The ILP team did a phenomenal job capitalizing on the growing LED market,” added Ken Hessevick, Pfingsten Principal. “We wish Jason and the entire ILP organization success in its next phase of growth.”

The transaction closed on March 31, 2017. Lincoln International acted as the exclusive financial advisor to ILP and Paul Hastings served as legal counsel. Pfingsten is an operationally focused private equity firm formed in 1989.

From its headquarters in Chicago, IL and representative offices in ChangAn, China, New Delhi, India and Chennai, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 116 manufacturing, distribution and business services companies. For more information, visit pfingsten.com.