Genlyte To Buy Hanover Lantern For $26 Million

Feb. 9, 2007
Genlyte Group Inc., Louisville, Ky., will buy Hanover Lantern, Hanover, Pa., for $26 million in cash

Genlyte Group Inc., Louisville, Ky., will buy Hanover Lantern, Hanover, Pa., for $26 million in cash.

Hanover Lantern is a privately held lighting fixture company servicing the outdoor commercial, decorative, municipal, and residential markets. The company’s group of products complements Genlyte’s current outdoor product lines, according to Genlyte.

Larry K. Powers, president and chief executive officer of Genlyte Group, said, “We are pleased with the strategic benefits of this acquisition. The Hanover Lantern business is a highly respected outdoor lighting business. Hanover will provide us with another platform to launch new product ideas with some very talented people to help us accomplish these goals.”

Hanover, which has 160 employees, will operate as an independent division, Powers said. Hanover owns one facility and leases another in Hanover, Pa.
Bob Baker, the current president of Hanover Lantern, will continue as the Hanover division president.

The deal was expected to close this week.