Lightserve Acquisited of Illumetek
December 23, 2020
Lightserve has announced the acquisition of Illumetek. Lightserve is a leading provider of customized lighting distribution, maintenance, and retrofit solutions across various industrial and commercial markets throughout the U.S.
According to Lightserve CEO Kevin Franklin and President Bill Hurd, “The acquisition of Illumetek represents a unique opportunity to further strengthen our national presence in all vertical lighting markets, provide enhanced opportunities to expand our current technical service capabilities, and reaffirms our collective commitment to provide exceptional customer service and value over a broader footprint.”
Lightserve CFO Jason Brafford added, “The timing of this transaction closing in the current market environment could not be more important. With increased uncertainty resulting from COVID-19 our collective financial strength and further diversified business model positions the combined company to not only weather, but excel through, further market and economic turbulence.”
Headquartered in Stow, OH, Illumetek is a national industry leader in commercial lighting and electrical upgrades with a unique commitment to logistical expertise for enterprise-level program management. Additional specialties include reactive and preventative maintenance, electrical rollouts and installations, lighting and HVAC controls, IoT initiatives, and labor only management. Illumetek is also an award-winning participant in utility incentive programs, filing all customer rebates and returning 100% of those dollars back to the customer.
The Lighting Quotient Acquires Electrix’s Architectural Lighting Business
West Haven, CT [11/30/2020] – Sylvan R. Shemitz Designs, LLC, doing business as The Lighting Quotient® , the maker of Elliptipar® and Tambient® lighting products, has acquired the operating assets and products of Electrix, LLC’s architectural lighting business, including the Electrix® brand, strengthening The Lighting Quotient’s position in the LED lighting market and enhancing its manufacturing operations in Connecticut.
“We are adding highly skilled engineering capacity and integrating strong manufacturing capabilities in order to add breadth and depth to our portfolio of innovative high-performance luminaires,” said Allison Schieffelin, CEO. “In addition, Electrix is a brand known for innovative indoor and outdoor linear and in-grade luminaires. Electrix products from development partnerships and marketing agreements are the subject of ongoing discussions in the US and Europe.”
The additional manufacturing capabilities will improve capacity and flexibility for delivery of quality products as customers expect from The Lighting Quotient. Andy Novotny, COO, said, “we will execute production immediately in order to provide uninterrupted service and delivery for customers and we will strategically optimize the output of high integrity products.”
Dwight Kitchen, President of Electrix, added, “we are capitalizing on this opportunity to enhance the visibility of Electrix in the marketplace. We will accelerate our product development and offer a wider selection of fixtures to satisfy customer demand.”
The Lighting Quotient’s lighting fixtures and electronic controls solutions are used in commercial and residential projects, regularly featured in offices, hotels and restaurants, universities, museums, houses of worship, facades
and monuments worldwide. The Lighting Quotient’s products are actively utilized in infrastructure projects including architectural bridges, airports and transportation terminals.
Cree LED Sold Smart Global holdings
October 19, 2020
Cree, Inc. (Nasdaq: CREE) today announced that the Company has entered into a definitive agreement to sell its LED Products business unit (“Cree LED”) to SMART Global Holdings, Inc. (Nasdaq: SGH) for up to $300 million, including fixed upfront and deferred payments and contingent consideration.
Under the terms of the agreement, which has been approved by the Company’s board of directors, Cree expects to receive an initial cash payment of $50 million upon closing and $125 million to be paid upon maturity of a seller note issued by SMART to Cree due August 2023. Cree also has the potential to receive an earn-out payment of up to $125 million based on the revenue and gross profit performance of Cree LED in the first full four quarters post-transaction close, also payable in the form of a three-year seller note.
“We are pleased to announce the sale of our LED Products business to SMART, which represents another key milestone in our transformational journey to create a pure-play global semiconductor powerhouse,” said Cree CEO Gregg Lowe. “This transaction uniquely positions us with a sharpened strategic focus to lead the industry transition from silicon to silicon carbide and further strengthens our financial position, which will support continued investments to capitalize on multi-decade growth opportunities across EV, 5G and industrial applications. SMART has a strong platform and a solid track record of successfully acquiring and integrating technology businesses.”
Cree LED has one of the industry’s widest portfolios of highly efficient LED chips and high-performance LED components and represents one of the strongest brands in the industry. SMART is a global leader in specialty memory, storage and high-performance computing solutions serving the electronics industry for over 30 years. Leveraging SMART’s diverse customer base and global operations, Cree LED will be well positioned to continue to deliver industry leading products.
“We are thrilled to welcome Cree LED to the SMART family,” said Mark Adams, President and CEO of SMART Global Holdings.
“As the leader in LED lighting technology with a highly respected brand and expansive patent portfolio, Cree has a track record of delivering best-in-class solutions and I am very excited about the opportunities that lie ahead for Cree LED as part of the SMART portfolio of products.”
The transaction is subject to required regulatory approvals and satisfaction of customary closing conditions, and is targeted to close in the first calendar quarter of 2021. Following the closing of the transaction, SMART will license and incorporate the Cree LED brand name into the SMART portfolio of businesses.
In connection with the transaction, Morgan Stanley & Co. LLC is acting as financial advisor and Smith Anderson is acting as legal advisor to Cree.
SolarOne Becomes Fonroche Lighting
October 15th, 2020
Fonroche Lighting America announced today that it is changing its brand name from SolarOne to Fonroche Lighting, as part of Fonroche’s acquisition of SolarOne Solutions in August, 2019. This shift reflects much more than a name change, according to company leaders. “We’re taking an exciting next step in our company’s transition,” says Niels Van Duinen, COO of Fonroche Lighting America. “We already bring exceptional value and reliability to solar street lighting. Now we can be an even more recognized player in our industry—disrupting and growing the solar lighting market.”
Leveraging the strengths of an international leader
Based in Roquefort, France, Fonroche has installed more than 100,000 solar street lights throughout the world. With its transition complete, the US division—based in Needham, MA—can leverage significant innovations and organizational strengths from Fonroche. “We can invest in innovation, including game-changing new battery technology, to raise the efficiency and reliability of our Smartlight street lights even higher,” says Van Duinen. “Along with our partners, we can provide field-tested expertise and responsive service to our customers. And we can take on projects and initiatives of any size, from local to international.”
Bringing solar street lighting to all
Fonroche Lighting America will continue to sell to its core customers—municipalities, federal and military facilities, tribes, commercial properties, and developers. “Our current customers and partners trust us to deliver the full promise of solar lighting,” says Ilze Greene, marketing director of Fonroche Lighting America. “Now we can explore opportunities to help new customers use solar street lighting to bring much-needed light to key areas, from parks to parking lots, roadways to tribal lands.”
Smartlight street lights offer significant advantages over other solar lighting options, according to Greene. “Our Smartlights serve as a smart, simple, and sustainable alternative to installing more grid-based lighting,” she says. “And they’re a much more advanced, durable and reliable choice over low-quality solar solutions.”
Fonroche Lighting is part of the Fonroche Group, a major player in the renewable energy industry, with extensive expertise in lighting, biogas, and high-temperature geothermal solutions. Its off-grid solar lighting division has installed more than 100,000 systems, including the largest solar street lighting installation in the world.
Fonroche Lighting America, the US division of Fonroche Lighting, develops and markets advanced Smartlight solar street lighting solutions for the North American market, including municipalities, federal and military facilities, tribes, commercial properties, and developers. These customers and more choose Fonroche Lighting America for the simplicity and reliability of its solar street lighting solutions, which deliver safety and savings today—and sustainability and resilience far into the future.
Luminii Acquisition of iLight Technologies
October 2, 2020
Luminii, a manufacturer of industry-leading specification-grade architectural LED lighting systems, has acquired iLight Technologies, an LED manufacturer specializing in patented LED application systems and exceptionally durable and flexible commercial illumination products complementary to existing Luminii product lines.
Founded in 2000, iLight has been a pioneer in the engineering of innovative LED illumination solutions that transform corporate and architectural environments with show stopping installations. Among iLight’s product lines are patented application systems that give iLight the ability to create highly distinctive lighting products that feature high lumen output, a smooth, even glow, and linear lighting systems that underscore impressive durability and flexible formfactors. In addition, iLight brings proprietary advancements in energy efficiencies with minimal in-field maintenance across the portfolio.
“The new and immediate possibilities iLight brings to Luminii and our customers are both refreshing and exciting as we continue to chart our growth,” said Jeff Parker, CEO of Luminii and lighting industry visionary. “iLight Technologies expands our product offering and standards for creating high-quality products, giving customers a broader range of options to design Luminii products into their projects. iLight also provides us with added strength and potential in outdoor product offerings that are unique to the market.”
iLight Technologies, under the leadership of its CEO Sean Callahan, also adds new color to Luminii’s client roster with a customer portfolio including notables such as Blue Moon Brewery, W Hotel, Kate Spade, Navy Pier, JW Marriott and a host of eclectic projects in renowned indoor and outdoor applications.
“At iLight, we cannot imagine a better partner to accelerate the growth and innovation our team has generated for our company and customers,” Callahan said. “When considering the transaction, we quickly gained confidence in Luminii as a force for bringing iLight products and technologies to life in new ways and multiplying our strong momentum. With iLight now in good hands, I am now eager to spend even more time developing and growing a new technology we began at iLight, our SpellBrite Click-Together LED Letter business.”
As Luminii’s third strategic acquisition within the last year, the transaction with Chicago-based iLight Technologies underscores Luminii’s determination to unlock new market opportunities and reinforce its domestic manufacturing and product capabilities as part of a bold expansion strategy. Luminii acquired two other LED lighting manufacturers, California-based Optic Arts and Canada-based Senso, in 2019.
“In pursuing this acquisition, Luminii followed a rigorous process for identifying particularly strong partners with high-quality products that align to our engineering design ethics, manufacturing, and operational objectives,” said Amy Bonder, Executive Vice President of Sales and Marketing at Luminii. “Along with complementary products, we create new centers of excellence at all levels of the business as iLight brings its unique expertise to the company.”
Luminii will also utilize and expand iLight Technologies’ manufacturing facilities in Cookeville, Tenn., helping to significantly enhance the company’s U.S. supply chain.
“At Luminii, we will continue to push the boundaries of lighting technology and innovation by supporting the advancement of all aspects of the business, through future strategic acquisitions, organic growth, and inventive new product development,” Parker said. “Joining forces with iLight now gives both companies tremendous opportunities for expanding market share and bringing highly unique products to the lighting industry, all to the benefit of our growing roster of enthusiastic and loyal customers.”
Parker said Luminii will continue to carry and produce iLight Technologies’ award-winning product brands with deepened investments in engineering and manufacturing support.
Luminii is an industry-leading, specification-grade LED lighting manufacturer on a mission to enhance architecture delivering high-performance products in a simply brilliant way. We bring unique visions to life through highly modifiable solutions driven by innovation and delivered with simple processes from specification through installation. Whether you are an architect, designer, or contractor, we are committed to delivering premium lighting products and an experience that is efficient, positive, and memorable. Follow Luminii on Instagram, LinkedIn, YOUTUBE, and Pinterest for more information on products, applications and industry events.
Luminii is a registered trademark of Luminii, LLC.
GE lighting is sold to Savant Systems Inc
July 1, 2020
Savant Systems, Inc., an industry leader in the professional smart home space has announced today that it has completed the acquisition of GE Lighting from GE (NYSE: GE), creating GE Lighting, a Savant company. Financial details were not disclosed.
Bill Lacey, president and CEO of GE Lighting, a Savant company, said, “For more than a century we’ve been bringing the future to light as part of GE and today we couldn’t be more excited to continue our journey as part of Savant. Savant is committed to continued investment and innovation in the lamp and fixture space and their deep knowledge and expertise in home automation will help our business accelerate delivery of bold smart home innovation at retail.”
The headquarters for GE Lighting, a Savant company, will remain at historic NELA Park in East Cleveland, Ohio and Bill Lacey will continue in his current capacity. Under a long-term licensing agreement, GE Lighting, a Savant company will continue using the GE brand on its products moving forward.
Robert Madonna, Chairman of Savant and GE Lighting, a Savant company, said, “We are committed to ensuring that Lighting’s long history of industry leadership continues, while bringing exceptional value and reliability to retail partners and consumers. This acquisition has moved our company significantly toward our goal of becoming the number one intelligent lighting and smart home company worldwide.”
The Savant brand remains steadfastly committed to the professional installation channel for the home, and it will continue to invest heavily in the development of the most advanced products, solutions and services for this market.
Savant Systems, Inc., a Massachusetts-based company, is a recognized leader in home control and automation, and one of the fastest-growing smart home companies in the luxury and mid-markets. Savant’s powerful Pro technology brings together all of the vital pillars of the connected home – climate, lighting, entertainment, security and energy – together in a single application interface for the homeowner. This comprehensive whole-home control system, available through iOS and Android, delivers the premiere experience in all of home automation and is available through Magnolia Design Centers and Savant’s global network of Authorized Integrators. Learn more at www.savant.com.