Revolution Lighting Technologies, Inc., Stamford, Conn., has a definitive agreement to acquire Value Lighting Inc. and certain affiliates, a lighting manufacturer that concentrates on the multifamily residential housing sector and new construction marketplace across the United States.
The combination will give Value Lighting new LED options to bring its market. Based in Marietta, Ga., and founded in 2005, Value Lighting posted 2013 revenues of about $43 million is expected to see $55 million in 2014, with EBITDA above 12% in both periods, the companies said in a release. More than half of Value Lighting’s expected 2014 revenues are in current backlog.
Value Lighting employs 75 people, who will join Revolution and its management team will continue to run the Value Lighting operations. Value Lighting brings Revolution significant design and engineering capabilities, serving the multifamily marketplace, as well as hotels, assisted living facilities, student housing, military barracks and commercial facilities.
“This is an exciting and highly complementary acquisition that will allow Revolution Lighting to penetrate new markets, including the fast growing multifamily residential housing sector, and further accelerate our overall growth as a company,” said Robert LaPenta, chairman and CEO of Revolution Lighting Technologies. “Value Lighting’s existing and new build customers are seeking to expand into LED lighting solutions and will provide a new and significant distribution channel for our company.”
More details to come.