Baird Capital Exits Investment in ecube
LONDON (5 Sept. 2024) – Today, Baird Capital’s Global Private Equity team announced that it has sold its investment in end-of-life aircraft services provider, ecube Solutions Limited (“ecube”), to Unical Aviation Inc (“Unical”), a leading aftermarket parts supplier to the global aerospace industry, headquartered in Arizona, U.S. and backed by Platinum Equity.
From locations in St Athan, Wales, Arizona, U.S., and Castellon, Spain, ecube has grown to become the world’s leading end-of-life aircraft service provider with a reputation for service excellence and supporting Circular Economy demands through the re-use and recycling of critical components.
Baird Capital invested in ecube in 2020 and Partners James Benfield and Louise Kingston joined the board of directors. Through their investment period, Baird Capital supported the company to recruit a new leadership team to enable the retirement of the founders, to establish a U.S. footprint through the greenfield development of a new site in Arizona and to diversify into complementary service capabilities. This transaction marks a full realization for Baird Capital and is another successful case study of Baird Capital’s longstanding focus on Sustainability and experience in supporting the growth of Circular Economy business models.
Lee McConnellogue joined ecube as CEO in 2022 and will continue to lead the business under Unical’s ownership. McConnellogue commented: “Baird Capital have been a fantastic partner to ecube over the last four years. Their support and collaboration have been instrumental to driving ecube’s tremendous growth in the U.S. and we always enjoyed a great alignment around culture and values.”
He added “Unical is already an important partner to ecube, and we are excited about what’s to come as a combined entity, with our customers, partners and people at the very centre of our exciting growth plans.”
James Benfield said: “We are proud to have played a part in growing ecube into the global market leader in end-of-life aircraft services. Working with Lee and the whole team at ecube has been a fantastic partnership founded on shared ambition, respect and values, and we are excited to see what they go on to achieve next.”
The sale of ecube demonstrates Baird Capital’s ability to support B2B Technology and Services businesses to achieve ambitious international growth strategies.
Baird Capital was advised by Kroll (M&A Advisor) and Eversheds Sutherland (Legal).
About ecube
ecube Solutions provides expertise in a range of core services, to deliver customer-focused solutions for global aircraft owners and operators, enabling them to protect their asset values, respond to market opportunities, and ultimately maximise the return from their assets. ecube’s primary operations and headquarters are in St. Athan, Wales, with additional facilities in Castellón, Spain and Coolidge Municipal Airport, Arizona. Core services include aircraft part out and disposal, parking, customs management, crating fabrication and parts storage. Learn more at www.ecube.aero.
About Baird Capital
Baird Capital manages two investment platforms, Venture Capital and Global Private Equity, and invests in B2B technology and services-focused companies worldwide. Founded in 1989, the group focuses on investing in sub-sectors where it has deep institutional knowledge and leveraging global operating capabilities to support the operational and growth needs of partner companies. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit BairdCapital.com.
Baird Capital Partners Europe Limited is authorised and regulated by the Financial
For More Information
Rachel Berkowitz
Baird Capital Public Relations
(414) 298-5101
rberkowitz@rwbaird.com
