Baird Capital, the direct private investment arm of Robert W Baird & Co, has acquired a majority interest in CAV Ice Protection Limited and CAV Advanced Technologies Ltd (CAV).
CAV is a leading provider of ice protection and drag reduction technology to general aviation, commercial aerospace and defence markets worldwide. As part of the transaction, Baird Capital Managing Directors James Benfield and Dennis Hall will join the CAV board of directors.
CAV is headquartered in Consett, County Durham. The Company’s proprietary Ice Protection systems provide a unique solution to a critical safety challenge across numerous segments of the aerospace market. CAV is also a technology and manufacturing partner to major commercial OEMs for hybrid laminar flow control (HLFC) drag reduction systems.
“CEO Owen McFarlane and the CAV team’s focus on delivering products that drive safety and efficiency are a perfect fit with our thesis-based investment approach. CAV’s leading positions in ice protection and drag reduction have established the company as an aviation and aerospace industry technology leader. Our investment and global resources will help drive key product initiatives and accelerate CAV’s further penetration of the aviation and aerospace market,” says James Benfield, Partner, Baird Capital.
Owen McFarlane, CAV CEO, says: “We are excited to work alongside Baird Capital. Their global resources and expertise will be valuable as we focus on driving future innovation and growth”.
