Milwaukee-based Baird Capital, the direct private investment division of Robert W. Baird & Co. Inc., has acquired SloanLED through its U.S. private equity group.
Ventura, Calif.-based SloanLED manufactures LED technology for several uses, including signage, spa, optoelectronics, refrigeration and down lighting. It has offices in North America, Asia and Europe.
Golub Capital is providing senior financing for the transaction. Golub, JZ Partners and Hexagon Inc. are co-investing with Baird. Terms of the transaction were not disclosed.
“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 commercial and industrial end markets,” said Andrew Brickman, Baird Capital Partner.
As part of the transaction, Brickman and Baird Capital operating partners Scott Hoffman and Dave Schroeder will join SloanLED’s board or directors.
“SloanLED provides outstanding products and service to its customers,” Hoffman said. “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.”
