SloanLED, a portfolio company of Baird Capital, has acquired Litecorr. Baird Capital acquired SloanLED in May 2015.
Litecorr is a developer and manufacturer of lighting emitting diode (LED) lighting products that are used in a variety of applications across a range of industries. The company’s products are designed to replace traditional high energy consumption lighting with next-generation LED lighting to optimize lighting brightness levels and reduce energy use.
Litecorr was founded in 1984 and is headquartered near Toronto in Mississauga, ON (www.litecorr.com).
SloanLED is a manufacturer of LED-based products that are used in sign and architectural applications (channel letter lighting, lighting for cabinets and boxes, border tubing and accents); lighting systems (retail storefront exteriors and refrigerated display systems); indicator lights (aviation/avionics, industrial controls, electronic instrumentation, and elevators); and spa lighting (includes color-changing LED systems for hot-water spa tubs, lenses, controllers and power supplies). The company was founded in 1957 and entered the LED market in 1970. SloanLED is led by CEO Ervin Cash and is headquartered in Ventura, CA (www.sloanled.com).
According to Baird Capital, the combination of SloanLED and Litecorr will form a company that can provide end-to-end sign and lighting systems specific to key industry verticals including consumer services; financial services; food and grocery; hospitality; convenience stores; retail; stadiums and theaters; and transit. 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 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.”
Baird Capital makes venture capital, growth equity and private equity investments in the healthcare, industrial products and services, and technology services sectors. The firm was founded in 1989 and is based in Chicago with additional offices in Milwaukee, London and Shanghai (www.bairdcapital.com).
© 2018 Private Equity Professional | February 27, 2018
L Squared Capital has acquired United Scope, a designer, manufacturer, and distributor of microscopes and accessories.
L Squared’s investment will support United Scope’s international expansion strategy, product development efforts, and add-on acquisitions. “We have been extremely impressed by United Scope’s track record of growth and commitment to excellence and customer service,” said Randall Hunt, Partner at L Squared. “The company’s vast supply chain network and omni-channel presence have created a leading online position to drive sustainable growth and we are committed to providing the capital, experience, and strategic resources to accelerate organic growth initiatives and pursue accretive acquisitions.”
“We believe United Scope’s founders have done an excellent job building a world-class business that delivers best-in-class service, speed, and quality to its customers. With the additional resources and talent we’ve recruited to the platform, the L Squared team is extremely excited about our investment in United Scope right here in Southern California,” said Sean Barrette, Partner at L Squared.
L Squared invests from $15 million to $75 million of equity in companies active in tech-enabled services & software, industrial technology & services, and education technology. Targeted investments will have revenue of $10 million to $100 million and EBITDA of $3 million to $20 million. United Scope is L Squared’s seventh platform investment over the last three years. The firm was founded in 2014 and is headquartered in Newport Beach, CA (
Clearview Capital has acquired Mudlick Mail, a provider of direct mail and related marketing services.
“Tim Ross and the Mudlick team have developed an excellent model for providing a high level of customer service, marketing expertise and measurable results to an underserved base of thousands of small to medium-sized businesses and franchise customers,” said Geoff Faux, a Vice President of Clearview Capital. “We believe Mudlick has a tremendous opportunity to continue to enhance its service offerings and capitalize on a robust market potential.”
Clearview Capital invests from $8 million to $50 million of equity in companies that have from $3 million to $15 million of EBITDA. Sectors of interest include business services, healthcare services, manufacturing, and specialized distribution. The firm was founded in 1999 and is headquartered in Stamford, CT with an additional office in Los Angeles (
“We are excited to be working with Tim and the entire Mudlick team,” said Calvin Neider, Managing Partner and co-Founder of Clearview Capital. “Mudlick has many compelling opportunities for growth, and we look forward to supporting the company as it seeks to expand its capabilities into new and existing markets, both organically and potentially through acquisition.”
Parthenon Capital Partners has made a minority investment in RedCard, a provider of claims communications, payments and enrollment services to healthcare providers, payors and members.
“RedCard is an exceptional company, bringing unique technology and solutions to some of the healthcare industry’s most intractable claims and billing challenges. We’re thrilled to have the opportunity to partner with the entire RedCard team and to support their growth initiatives over time,” said Dave Ament, Co-CEO of Parthenon.
Parthenon invests in middle market companies with enterprise values of $35 million to $500 million that are active in healthcare services, financial services, and business services. The firm was founded in 1998 and has offices in Boston and San Francisco (
