LONDON – 16 Feb. 2021 – Baird Capital announced today the sale of private equity portfolio company Collingwood Lighting (“Collingwood”) to Ambienta Sgr S.p.A (“Ambienta”). The transaction represents a full exit from this investment for Baird Capital. The terms of the transaction were not disclosed.
Collingwood is headquartered in Sywell, Northamptonshire, and is a leading designer and supplier of residential, commercial and exterior luminaires into the professional refurbishment and new-build markets in the U.K. and France. The company has a reputation for outstanding product quality and exceptional customer service.
Baird Capital originally invested in Collingwood in 2018 following a proactive search and marketing campaign targeting LED lighting as part of its energy efficiency investment thesis. The transaction involved backing Steve Grao, a highly experienced lighting executive, in the transition of ownership from the previous founder-owner. The LED lighting market is experiencing growth as a result of the transition from incandescent to energy-efficient LEDs. During Baird Capital’s two and a half years of ownership, Collingwood has grown at over 11% CAGR and doubled its adjusted EBITDA, exceeding Baird Capital’s investment plan.
James Benfield, Partner with Baird Capital, commented, “We invested in Collingwood in 2018 because we saw an opportunity to back Steve and his team’s vision to take a business with a fantastic brand and an enviable customer reputation and grow it rapidly. During our hold period, the business gained market share in its traditional residential and landscape markets and also launched products into the adjacent commercial and industrial lighting segments. Collingwood is at the forefront of product innovation in the electrical wholesaler channel.”
Steve Grao, CEO of Collingwood, said, "It's been a pleasure working with Baird Capital. They have been an exceptional partner in supporting the business’ professionalisation, from sourcing, through operations, marketing and sales. As a result of our partnership, we are well-positioned to embark on the exciting next phase of our growth with Ambienta."
Baird Capital was advised by Raymond James (financial) and Taylor Wessing (legal).
For more information on Baird Capital’s investment approach, team members, or portfolio, visit BairdCapital.com.
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 320 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 the United States, Europe and 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 BairdCapital.com.
Baird Capital Partners Europe Limited is authorised and regulated in the United Kingdom by the Financial Conduct Authority.
For additional information, contact:
Baird Public Relations