London, 14 January 2019
Bay Tree Private Equity are delighted to announce our inaugural investment in backing the MBO of Prime Light Group, which is the UK's leading distributor of specialist high calibre components to the lighting industry and other markets including the transportation and catering sectors.
Founder Michael Cole will remain with the business as Executive Chairman, with day to day operations passing to MD Sean Hounslow and Finance Director Miran Khesro.
"I'm very proud of the business I started nearly 30 years ago, so I am delighted that my senior team, backed by Bay Tree will now embark on its next phase of growth. We have enjoyed working with Bay Tree Partners during the transaction process and are confident they are a strong cultural fit with our business. We look forward to growing Prime Light further with the help and expertise of the full Bay Tree team over the coming years."
Michael Cole, Founder of Prime Light Group
"We are delighted to be backing Sean & Miran and look forward to helping them with the execution of their exciting growth plan."
Ed Cottrell, Partner at Bay Tree
"Michael Cole and his team have built a high quality business with a blue chip client and supplier base, with a reputation for exceptionally high levels of service delivery. We believe that the rapid movement towards Smart Buildings & Smart Cities is a fabulous opportunity for Prime Light, especially with its expert knowledge of the Smart lighting markets and its provision of products and services to this fast growth area."
Tony Wheble, Partner at Bay Tree
Bay Tree invest in privately owned UK businesses with profits between £1m – £5m and are backed by a single source of institutional funding.