Chicago-based private equity firm Kinzie Capital Partners (Kinzie), through an affiliated entity, has acquired Chelsea Lighting NYC (Chelsea).The transaction was completed in partnership with the Company’s management, including Thomas Ike, Brian Horigan and Eric Martin, who will maintain significant ownership interest in Chelsea and will continue to hold key management roles at the Company, with Ike serving as CEO, Horigan as COO and CFO and Martin as the General Counsel and CAO.
Founded in 1994, Chelsea is currently the largest independent lighting and lighting controls distributor serving the New York City market where it supplies the real estate, design and construction industries. With the acquisition by Kinzie, Chelsea is poised to expand its best-in-class service to customers across the country while expanding its role as a leader at the intersection of lighting and technology, through its Power over Ethernet (PoE) and Controls divisions, where it has led high profile projects throughout the nation.
“We are excited to partner with Kinzie as we enter our next phase of market expansion and growth,” said Tom Ike, CEO of Chelsea Lighting. “Kinzie’s collaborative approach along with their operational and technological expertise will allow us to continue to provide exceptional service and bring new and innovative high value solutions to our clients.”
“Tom, Brian and Eric’s focus on innovation, customer service and employee development, coupled with Chelsea being at the forefront of lighting technology, makes this a very exciting opportunity for Kinzie,” says Suzanne Yoon, Founder and Managing Partner of Kinzie. “We are thrilled to be partnering with Chelsea’s management team to expand the business nationally and increase its profile in our hometown of Chicago.”
Mesirow Financial served as the exclusive financial advisor to Chelsea Lighting NYC, LLC on this transaction.
