SloanLED, a portfolio company of Baird Capital, has agreed to acquire Litecorr. Financial terms were not disclosed.
Founded in 1984, Mississauga, Ontario based Litecorr is a leading edge developer and manufacturer of LED (Lighting Emitting Diode) lighting products for use in a variety of applications across a range of industries.
Founded in 1957, Ventura, California based SloanLED is a leading manufacturer of LED technology serving customers in many commercial and industrial markets.
Baird Capital, the direct private investment arm of Robert W. Baird & Co., through its U.S. Private Equity group acquired SloanLED in April 2015.
photo credit: Litecorr
Baird Capital Portfolio Company SloanLED Acquires Litecorr
Toronto, February 27, 2018 – Baird Capital announced today that its Private Equity portfolio company SloanLED will acquire Litecorr. Together, these complementary companies will provide end-to-end solutions for clients and expand their global reach and product line.
Litecorr is a global LED lighting solutions provider, developing leading LED lighting products for use in a variety of applications across many industries. SloanLED is a leading manufacturer of LED technology serving customers in many commercial and industrial markets.
Customers and selling partners have been asking for a broader product portfolio to meet the various unique applications for LED lighting. The combination of SloanLED and Litecorr addresses these demands by providing end-to-end sign and lighting systems solutions specific to the key industry verticals: Consumer Services, Financial Services, Food/Grocery, Hotels/Hospitality, Petroleum/Convenience, Retail, Stadiums/Theaters, Transit, etc. The increased portfolio breadth will support more applications and deliver turnkey solutions with improved ROI to customers for LED retrofit projects.
“Combining SloanLED’s products and capabilities with Litecorr’s will achieve an even better ROI for customers,” said Michael Singh, Chairman of Litecorr. “We will now have the capacity to provide more options for a broader set of customers and I am very excited about the opportunities that lie ahead.”
“Michael Singh has a great ability to translate an LED application into a compelling ROI that thrills the customer, delivering peace of mind with reliable lighting solutions that save the customer money on their operating costs,” said Ervin Cash, President & CEO of SloanLED. “We look forward to working with Michael, learning from him, and incorporating Litecorr’s broad product portfolio through our channels, worldwide.”
“Michael Singh is a pioneer in the lighting industry,” said Andrew Brickman, Partner, Baird Capital. “After actively following this sector for several years and working with SloanLED since 2015, we are thrilled to continue our expansion by acquiring Litecorr.”
SloanLED and Litecorr will continue to operate independently for the foreseeable future, with no change in sales channels. Ervin Cash will continue to to serve as CEO and President of SloanLED and as CEO of Litecorr, Michael Singh will serve as President of Litecorr and will report to Cash.
Litecorr is a long-time leading edge developer and (TSP) turnkey solutions provider of LED (Lighting Emitting Diode) lighting, video screens, and POS products for use in a variety of applications across a broad range of industries. Litecorr is regarded as an industry pioneer with numerous first-to-market LED products. For more information, please visit Litecorr.com.
SloanLED is a pioneer in applied light technology solutions with a vision of enlightening the world. It is SloanLED’s mission to deliver innovative application-based light solutions to their customers in the signage, retail, sporting, hospitality, petroleum, and commercial markets. By anticipating customer’s needs, SloanLED designs, tests, and delivers comprehensive solutions that factor in total cost of ownership requirements, maximizing return on investment, and providing a positive experience. SloanLED collaborates with their industry-leading partners to leverage technology, focus on research, and continuously improve their organization, processes, and products. For over 60 years SloanLED has provided the best LEDs and support, superior technical assistance, and unparalleled customer service. The company is headquartered in Ventura, Calif., with a European office in The Netherlands servicing the rest of the world. (Source: SloanLED.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 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 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.
For more information, contact:
Baird Public Relations
SloanLED Public Relations