Baird Capital Partners Europe Receives Top Honors for Paddock Investment
LONDON, 12 October 2011
Baird Capital Partners Europe (Baird), the UK-based buyout fund of Baird Private Equity, was honoured with the Unquote British Private Equity Award for “Small Buyout of the Year,” announced on 22 September in London. Baird was recognised for its investment in portfolio company Paddock Holdings Limited (“Paddock”), which was sold in 2010 to ASSA ABLOY, the global leader in door opening solutions.
Based in Walsall, England, Paddock is the UK’s largest manufacturer of multipoint door locks. Fundamental to the success of the business was the application of Baird’s international operating resources. These facilitated the development of Paddock’s Asia sourcing capabilities, the outsourcing of engineering design and development functions to India and ultimately led to Paddock achieving sales into the Chinese market. Over the course of Baird’s involvement, the operational improvements and off-shore savings drove record profits at Paddock, including a significant increase in gross margins. These changes were overseen by Baird’s Operating Partner, who while acting as Chairman also led the development of the management team including the recruitment of new sales, technical and finance directors. (Paddock Case Study
“The Paddock exit demonstrates our ability to deliver value through our international operating resources, even in a tough economic environment,” said Simon Havers, Chief Executive of Baird Capital Partners Europe. “We are very pleased that others in the private equity community appreciate our successful efforts to strengthen the company and the value we were able to deliver to investors in spite of the challenges we faced.”
About Baird Capital Partners Europe
Baird Capital Partners Europe, the U.K.-based buyout fund of Baird Private Equity, invests in U.K. middle market companies with an established annual turnover of £10m to £100m. Since 1971, it has completed over 150 private equity investments in the business services, manufactured products and healthcare sectors, where it has deep experience, knowledge and ability to add value. The group backs management teams with a strong track record and desire for further success. Baird Capital Partners Europe is supported by operating resources in China (Beijing, Hong Kong, and Shanghai) and India (Bangalore), focused on facilitating and executing Asia sourcing, manufacturing and distribution strategies for its portfolio companies. BCPE is authorised and regulated by the Financial Services Authority of the UK.
Baird Private Equity, the global private equity group of Robert W. Baird & Co. (Baird), makes venture capital, growth equity and buyout investments in smaller, high potential companies in the United States through Baird Venture Partners and Baird Capital Partners, in China through Baird Capital Partners Asia, and in Europe through Baird Capital Partners Europe. Baird Private Equity has a global team of investment and operations professionals across the United States, Europe and Asia, including a team of operating professionals in Asia. Baird Private Equity and its affiliates have raised and managed over $2.8 billion in capital and invested in more than 250 companies since the 1980s. For more information, please visit bcpe.co.uk