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September 2020

Gordon & Rees Advises Chelsea Lighting NYC on the Sale of Outstanding Membership Interests to Kinzie Capital Partners

Gordon Rees Scully & Mansukhani acted as legal counsel to the owners of Chelsea Lighting NYC, LLC ("Chelsea" or the "Company"), headquartered in New York, NY, on the sale of outstanding membership interests in the Company to private equity firm Kinzie Capital Partners ("Kinzie"). The owners of the Company, Thomas Ike, Brian Horigan and Eric Martin will maintain significant ownership interest in Chelsea Lighting 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.

The Gordon & Rees team was led by Craig Heryford, national chairperson of the firm’s Business Transactions practice group, with assistance from partner, Jonathan Boulahanis and Senior Counsel, Tyler Duff.   

Rocky Pontikes, managing director of Mesirow Financial’s Investment Banking group, said “the Gordon & Rees team did an excellent job of bringing this transaction to close in a difficult environment. They were proactive, offering creative solutions to difficult issues in a manner that kept the transaction on track and allowed us to close on schedule.”  Tom Ike, CEO of the Chelsea Lighting, said “Craig, JB and Tyler were a pleasure to work with. They listened to us and offered personalized guidance. We felt that they really cared about us as a client and getting us to the result that we were seeking.”  Kinzie Capital was represented by Greenberg Traurig.

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

Jonathan M. Boulahanis
Tyler Duff
Craig S. Heryford