Green Creative, a developer and manufacturer of light-emitting diode (LED) lighting, has been acquired by Fulton Capital and Merit Capital Partners. The management team of the company will retain a substantial equity stake in the company alongside Fulton and Merit. The transaction closed on December 29, 2015.
Green Creative products are sold to the commercial, industrial, and specification markets (the specification market is composed of interior designers and architects that specify the use of a particular product on building projects). Many of Green Creative’s customers are commercial retailers and hospitality chains. Green Creative is headquartered and manages product sales and distribution through its offices in South San Francisco and oversees research & development, sourcing, manufacturing, packaging and marketing of the company products from its facilities in Hong Kong and Shanghai (www.gc-lighting.com).
The company was founded in 2010 by Cole Zucker and Guillaume Vidal. Messrs. Zucker and Vidal will continue in their roles as Co-CEOs of Green Creative under the ownership of Fulton and Merit.
Fulton Capital invests in small and mid-sized companies with revenues between $20 million and $100 million and EBITDA between $2 million and $10 million. Transaction values range from $10 million to $70 million. Sectors of interest include niche manufacturing, logistics, distribution, and service businesses. Fulton Capital is led by its founders Phillip Gerber and David Schlossberg and is headquartered in the Chicago suburb of Northbrook (www.fulton-capital.com).
Merit Capital Partners invests mezzanine and equity capital of $15 million to $60 million in companies with at least $5 million of EBITDA that are active in the manufacturing, distribution and services industries. Merit provided subordinated debt and equity in this investment and David Jones, Evan Gallinson and Joe Polaneczky led the transaction. Merit was founded in 1993 and is based in Chicago (www.meritcapital.com).
Investment bank Sperry, Mitchell & Company was the financial advisor to Green Creative. Sperry Mitchell was founded in 1986 and has completed over 300 transactions in a range of industries with values ranging from $10 million to $450 million. The firm is based in New York (www.sperrymitchell.com).
© 2016 PEPD • Private Equity’s Leading News Magazine • 1-25-16