Baird Capital invests in eCube
Baird Capital, the direct investment arm of Baird, has acquired an interest in eCube Solutions Limited (eCube), a provider of storage, disassembly and parts re-use and recycling services to global aircraft owners in Europe, the Middle East and Asia, including major airlines and aircraft leasing companies.
Baird Capital’s James Benfield and Andrew Dyer will join the eCube board of directors.
eCube’s primary operations and headquarters are in St Athan, Wales, with a second parking and disassembly facility in Castellón, Spain. Over the past decade, the company has grown rapidly as a leader in accuracy, turn-around and innovation alongside the high levels of service the company provides its longstanding and loyal customer base.
The investment will support the continued growth of the UK business alongside supporting rapid growth in its new continental European facility, expanding parking availability and additional disassembly capacity. Supported by Baird Capital’s global platform, the business also plans to expand into North America, the world’s largest disassembly market.
“We are delighted to bring eCube into Baird Capital’s portfolio. Its position as a leader in its rapidly growing market makes it a great fit for our industrial portfolio. In addition, our global platform and in-country operating resources are a great match with their aspirations to expand into the US and Asian markets,” says James Benfield, Baird Capital Partner and Managing Director.
Tim Schmidt, eCube CEO, says: “We are excited to work alongside Baird Capital. Their culture is a strong fit with eCube, and their industrial expertise, network and global resources will be invaluable as we focus on driving future innovation and growth.”
Baird Capital was advised by Eversheds Sutherland (Legal), Grant Thornton (Financial and Tax Diligence) and CIL Management Consultants (Commercial Diligence).
The shareholders of eCube Solutions Limited were advised by Steen Associates (M&A), Squire Patton Boggs (Legal) and Mazars (Tax).