Laird plc
 | |
| Company type | Public |
|---|---|
| LSE: LRD | |
| Industry | Electronics |
| Founded | 1824 |
| Defunct | 2018 |
| Fate | Acquired |
| Headquarters | London, 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] | |
| Website | www.laird-plc.com |
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.
History[edit]
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[edit]
The company's had operations organised as follows:
- Performance Materials
- Wireless and Thermal Systems
- Connected Vehicle Solutions
References[edit]
- ^ a b c "Preliminary Results 2017" (PDF). Laird plc. Retrieved 30 May 2017.
- ^ a b "Cammell Laird day two: The fall and rise of a maritime giant". Liverpool Echo. 30 April 2013. Retrieved 20 January 2015.
- ^ "Metro's well tried technology". New Scientist. 8 December 1977. Retrieved 20 January 2015.
- ^ "A Brief History of the Metropolitan Railway Carriage and Wagon Company Ltd 1845-1945". Retrieved 20 January 2015.
- ^ "Trelleborg to buy Laird's components". The Engineer. 15 November 2000. Retrieved 20 January 2015.
- ^ "Laird Group waits for shareholder approval". DIY Week. 5 April 2007. Archived from the original on 4 March 2016. Retrieved 20 January 2015.
- ^ "The Laird Group PLC Annual General Meeting". 9 May 2008. Retrieved 20 January 2015.
- ^ "Laird Acquires LS Research". Interactive Investor. 24 November 2015. Retrieved 10 February 2015.
- ^ "Laird PLC Acquisition of Novero for €65 million". Directors Talk Interviews. 18 December 2015. Retrieved 10 February 2015.
- ^ "Laird Agrees GBP1 Billion Advent Takeover After Strong 2017". Morning Star. 1 March 2018. Retrieved 27 June 2018.
- ^ "Laird plc: cancellation of listing". Retrieved 2 July 2018.
- ^ "Molex To Acquire Laird Connected Vehicle Solutions Division". After Market News. 28 September 2018. Retrieved 18 July 2023.
- ^ "Bregal acquires Advent-backed Laird Thermal Systems". Unquote. 27 July 2021. Retrieved 18 July 2023.
- ^ "DuPont Completes Laird Performance Materials Acquisition". Adhesives Magazine. 19 July 2021. Retrieved 18 July 2023.
- ^ "DC Advisory advised Advent International on the sale of Laird Antennas to TE Connectivity". DC Advisory. 1 November 2021. Retrieved 18 July 2023.