Acuity Brands To Spin Off Specialty Products Unit, Agrees To Buy Mark Lighting

Acuity Brands Inc., Conyers, Ga., plans to spin off its specialty products unit as a separate, publicly traded company later this year.

The specialty products unit, to be formally named at a later date, has annual sales of about $600 million. Its products include cleaning and maintenance products for the commercial, industrial, institutional and consumer markets. Acuity Brands will continue to own Acuity Brands Lighting Inc., which has annual sales of $2 billion.

In other news, Acuity Brands has acquired for cash substantially all the assets and assumed certain liabilities of Mark Lighting Fixtures Inc. (“Mark Architectural Lighting”), Edison, N.J. Mark Architectural Lighting is a specification-oriented manufacturer of lighting products, including linear suspended systems, pendant, and recessed lighting.

Mark Architectural Lighting, with fiscal year 2006 sales of more than $22 million, will continue operations in its existing facility.

The acquisition gives Acuity Brands Lighting a stronger presence in the Northeast, particularly the New York City metropolitan area, and is a complement to the Center for Light+Space, the recently-opened Acuity Brands Lighting sales and marketing office in New York City. The transaction also adds to the growing portfolio of specialty brands at Acuity Brands Lighting through access to Mark Architectural Lighting’s design expertise and products.