New investment will strengthen Chelsea’s position at the forefront of burgeoning lighting technology space
CHICAGO, ILLINOIS – Kinzie Capital Partners LLC (“Kinzie”), a Chicago-based private equity firm, announced that through an affiliated entity it has acquired Chelsea Lighting NYC, LLC (“Chelsea” or the “Company”), headquartered in New York, NY. 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,” said 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, Inc. served as the exclusive financial advisor to Chelsea Lighting NYC, LLC on this transaction.
About Chelsea Lighting
Chelsea provides full-service project management to fit its customer needs, offering specialized consulting services related to lighting procurement, lighting controls and Power-over Ethernet lighting. The Company’s Total Lighting & Lighting Controls Solution provides a coordinated and enhanced customer experience from Design & Pre-Construction through the Construction & Closeout phases that will reduce costs, save time and meet the construction schedule. For more information visit www.chelsealighting.com.
About Kinzie Capital Partners LLC
Kinzie is a woman and minority owned private equity firm investing in lower middle-market companies in the consumer, manufacturing, and services industries with $3MM to $15MM of EBITDA. In alliance with Clarity Partners, LLC, specialists in management and technology consulting, Kinzie has assembled a team of technology, operations and industry experts that work closely with its portfolio companies to execute strategic vision. Whether companies are navigating a generational shift, experiencing a period of high growth or managing a complex business cycle, Kinzie seeks to create sustainable outcomes by leveraging technology and strong operational focus. For more information visit www.kinziecp.com.
Kinzie Capital Partners LLC
Phone: (212) 356-5101