Chauvet & Sons, a portfolio company of Cortec Group, has acquired ChamSys Ltd., a designer and manufacturer of lighting controllers used in entertainment applications.
ChamSys was founded in 2003 as Chameleon Systems by a group of designers and product developers seeking to create a lighting console that offered greater user flexibility. The company’s MagicQ controllers have set an industry standard used in some of the most prominent concert, theater, broadcast and club applications around the world. ChamSys is based in Southampton, UK (www.chamsys.co.uk).
Chauvet, acquired by Cortec in April 2016, is a provider of entertainment lighting products, trussing, controllers and related equipment used in applications ranging from DJ, club, corporate events, hospitality venues, and houses of worship, to more demanding settings including concert tours, theaters, and television. Chauvet was founded in 1990 by Albert and Berenice Chauvet and is headquartered in Sunrise, FL with additional offices in Belgium, the UK and Mexico (www.chauvetlighting.com).
The buy of ChamSys provides Chauvet with a presence in the controller market that complements its Chauvet professional lighting fixtures and LED video panels. “Chauvet has continued to perform very well since our investment last year and we are pleased to support management in the acquisition of ChamSys,” said Jonathan Stein, a Partner at Cortec. “The strategic benefits to both companies were apparent from the first meeting, and we share each team’s enthusiasm to realize their common vision. This investment is consistent with Cortec’s longstanding approach of partnering with entrepreneur owners to grow their companies via organic and acquisition initiatives.”
“We are very excited about the opportunity to join forces with ChamSys,” said Albert Chauvet, CEO of Chauvet. “We’re looking forward to building ChamSys in the US and making this outstanding line of controllers available to an even larger market. Together ChamSys and Chauvet are now in a position to better cover and serve markets worldwide.”
ChamSys will continue to operate as an independent business unit from its facility in Southampton, UK. ChamSys founders Chris Kennedy and George McDuff will remain as Managing Directors of the company and, together with Sales Director Tony Cameron, will continue to lead its current staff of software and hardware engineers, and its sales and support teams.
Cortec invests in middle-market specialty healthcare, consumer and business products, distribution, and services companies with revenues of $40 million to $300 million and EBITDA of $7 million to $35 million. The firm was founded in 1984 and is based in New York (www.cortecgroup.com). Chauvet is a portfolio company of Cortec Group Fund VI, which closed in May 2015 with $1.1 billion in capital commitments.
© 2017 Private Equity Professional | March 23, 2017
