Baird sells Paddock to ASSA ABLOY
Baird Capital Partners has sold its majority stake in UK door opening solutions specialist Paddock Holdings to ASSA ABLOY.
The deal value was not disclosed. Baird invested £8.9m of equity to support the management buyout of Paddock from founder and family owner Richard Harvey in 2006. The exit represents a 2.7x return on investment for the private equity house, equating to a 28% IRR.
Founded in 1978, Birmingham-based Paddock is a supplier of products for the uPVC, timber and composite door market. It focuses on three core segments: social housing, new build, and household maintenance and improvements.
The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.
If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com
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