Mesirow Financial Advises Chelsea Lighting NYC, LLC on its Sale to Kinzie Capital Partners
CHICAGO, September 8, 2020– Mesirow Financial acted as the exclusive financial advisor to Chelsea Lighting NYC, LLC ("Chelsea" or the "Company"), headquartered in New York, NY, on its sale to private equity firm Kinzie Capital Partners ("Kinzie"). 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. Kinzie, a Chicago-based private equity firm, invests in lower middle market companies within the consumer, manufacturing and services industries. Through its partnership with 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.
“Mesirow was instrumental in finding the optimal partner to facilitate Chelsea’s continued growth. The team provided exceptional guidance and utilized their expertise and relationships within the distribution and supply chain sectors to successfully navigate the unparalleled conditions ushered in by COVID-19,” said Tom Ike, CEO of Chelsea.
Rocky Pontikes, managing director of Mesirow Financial’s Investment Banking group, commented, “We are pleased to have advised Chelsea and its owners on this exciting transaction. Chelsea’s leading market position and reputation for quality service were key attributes that attracted a lot of interest. Its partnership with Kinzie is a great fit and will create a platform for continued organic geographic expansion, a broadening of its portfolio of products and services and a strong base for growth via acquisitions across the lighting and lighting controls industry.”
The sale of Chelsea to Kinzie represents another successful assignment completed by Mesirow Financial's Investment Banking group and highlights the firm’s expertise within the distribution and supply chain sectors. With deep, longstanding relationships and a client-centric approach, Mesirow has a proven track record of completing highly tailored and successful transactions on behalf of clients.
About Mesirow Financial
Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago with offices in 21 cities, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our workplace culture. To learn more, visit mesirowfinancial.com and follow us on LinkedIn.
About Chelsea Lighting NYC, LLC
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 thru the Construction & Closeout phases that will reduce costs, save time and meet the construction schedule. For more information visit chelsealighting.com