- With Baird’s support, Collingwood Lighting hopes to expand its international footprint and increase its market penetration in Europe;
- This is one several deals OakNorth has done with private equity firms this year, including with Lonsdale Capital to acquire Simmons Bars, and Literacy Capital to purchase a significant minority stake in Dartmouth Partners.
OakNorth – the bank for entrepreneurs, by entrepreneurs – has completed a deal with Baird Capital, the private equity firm which makes investments in mid-market companies across the United States, Europe and Asia, to part finance the acquisition of Collingwood Lighting, a leading designer and supplier of luminaires into the professional refurbishment and new-build markets in the UK and France.
With roots dating back to 1902, Collingwood Lighting was a fourth-generation family-owned business that has built itself up to a market-leading position. Its clients include residences, hotels, universities, shops and elderly care homes. The business, which has been featured on the Sunday Times International Track 200, is primarily focused on the UK and French markets but hopes to further its European presence with Baird’s help.
Commenting on the deal, Stuart Blair, debt finance director at OakNorth, said: “Collingwood Lighting is a well-run business with an excellent reputation for providing high-quality LED products, service and support. In Baird Capital, they’ve found a partner with extensive knowledge and experience of operating internationally, as well as a strong track record of investment returns over a sustained period. We’re delighted to have supported the business with this acquisition and look forward to working with Baird Capital on future transactions.
“This is one of several deals we’ve done this year with private equity firms who have invested in everything from bar chains to recruitment firms, and underlines OakNorth’s commitment to supporting the lower mid-market”.
James Benfield, Partner at Baird Capital, said: “The European lighting market is an exciting sector as lighting maintains its central position within intelligent and connected built infrastructure. Despite being founded almost five decades’ ago, Collingwood has managed to maintain its strong position through constantly innovating alongside establishing long-term relationships with its customers.”