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Kinzie Capital Partners, a Chicago-based private equity firm, bought Chelsea Lighting, a New York-based lighting distributor with a tight focus on the latest LED lighting and controls and PoE (Power over Ethernet) systems. Thomas Ike, Brian Horigan and Eric Martin 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, the press release said 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. The company is ranked #82 in EW’s Top 200 listing. Chelsea intends to use the Kinzie acquisition as a platform to grow its PoE and Controls divisions, where it has led high-profile projects throughout the nation.
“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.