Laird plc

Laird plc was a leading British-based electronics and technology business. It was listed on the London Stock Exchange until it was acquired by Advent International in July 2018.

Laird
TypePublic
LSE: LRD
IndustryElectronics
Founded1824
Defunct2018
FateAcquired
HeadquartersLondon, United Kingdom
Key people
Dr Martin Read CBE Chairman
Tony Quinlan CEO
Revenue£936.6 million (2017)[1]
£63.8 million (2017)[1]
£71.8 million (2017)[1]
Websitewww.laird-plc.com

History

The company was founded by John Laird in 1824 as Birkenhead Ironworks in Birkenhead, Wirral.[2] In 1903 it merged with Charles Cammell & Company Limited and, as Cammell Laird, went on to build numerous ships for the Royal Navy.[2] In 1976 its transport division, which traded as Metro-Cammell, secured a major order to build mass transit railway carriages for the Hong Kong Mass Transit System.[3]

In 1977 its shipbuilding business was nationalised and in 1989 it disposed of its mass transit railway activities.[4] In the 1980s it moved into security products and in the 1990s into electronics. In 2000 it disposed of its automotive industry activities[5] and more recently, in 2007, it disposed of its security business to Lupus Capital.[6] In 2008 it changed its name from Laird Group PLC to Laird PLC.[7]

The company subsequently expanded in electronics with acquisitions such as Wisconsin based LS Research in November 2015[8] and German based Novero in December 2015.[9]

In March 2018 Advent International made an offer for the company valuing at £1 billion.[10] The transaction was completed in July 2018.[11]

Advent subsequently broke Laird up, selling Laird Connected Vehicles to Molex Electronic Technologies in September 2018,[12] Laird Thermal Systems to Bregal Unternehmerk in July 2021,[13] Laird Performance Materials to DuPont also in July 2021,[14] and Laird Antennas to TE Connectivity in November 2021.[15]

Operations
Laird's offices at 100 Pall Mall

The company's had operations organised as follows:

  • Performance Materials
  • Wireless and Thermal Systems
  • Connected Vehicle Solutions

References
  1. "Preliminary Results 2017" (PDF). Laird plc. Retrieved 30 May 2017.
  2. "Cammell Laird day two: The fall and rise of a maritime giant". Liverpool Echo. 30 April 2013. Retrieved 20 January 2015.
  3. "Metro's well tried technology". New Scientist. 8 December 1977. Retrieved 20 January 2015.
  4. "A Brief History of the Metropolitan Railway Carriage and Wagon Company Ltd 1845-1945". Retrieved 20 January 2015.
  5. "Trelleborg to buy Laird's components". The Engineer. 15 November 2000. Retrieved 20 January 2015.
  6. "Laird Group waits for shareholder approval". DIY Week. 5 April 2007. Archived from the original on 4 March 2016. Retrieved 20 January 2015.
  7. "The Laird Group PLC Annual General Meeting". 9 May 2008. Retrieved 20 January 2015.
  8. "Laird Acquires LS Research". Interactive Investor. 24 November 2015. Retrieved 10 February 2015.
  9. "Laird PLC Acquisition of Novero for €65 million". Directors Talk Interviews. 18 December 2015. Retrieved 10 February 2015.
  10. "Laird Agrees GBP1 Billion Advent Takeover After Strong 2017". Morning Star. 1 March 2018. Retrieved 27 June 2018.
  11. "Laird plc: cancellation of listing". Retrieved 2 July 2018.
  12. "Molex To Acquire Laird Connected Vehicle Solutions Division". After Market News. 28 September 2018. Retrieved 18 July 2023.
  13. "Bregal acquires Advent-backed Laird Thermal Systems". Unquote. 27 July 2021. Retrieved 18 July 2023.
  14. "DuPont Completes Laird Performance Materials Acquisition". Adhesives Magazine. 19 July 2021. Retrieved 18 July 2023.
  15. "DC Advisory advised Advent International on the sale of Laird Antennas to TE Connectivity". DC Advisory. 1 November 2021. Retrieved 18 July 2023.
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