LSI Industries Inc., Cincinnati, has acquired Atlas Lighting Products, Inc., a Burlington, NC manufacturer of LED lighting products sold into the electrical distribution market. The deal was valued at $97.5 million.
“I am very excited to announce the acquisition of Atlas Lighting Products,” Dennis Wells, LSI CEO and president, said in a release. “This highly strategic acquisition, the largest in LSI’s history, will immediately broaden our lighting product offering, expand our sourcing capabilities, improve our profit margins, and provide significant revenue and cost synergies.”
Atlas makes quick-ship standard products, including floods, wallpacks, linear, pole mount, and high bay fixtures, which Wells said will complement LSI’s custom product lines with minimal overlap, “providing our customers with a very complete LED lighting product portfolio.”
LSI intends to keep the Atlas brand for its reputation in in the electrical distribution market, and will maintain independent agent networks for both the LSI and the Atlas product lines, Wells said.
More details to come.
