Roebling Capital Partners (RCP), Cincinnati, plans to acquire Teron Lighting Inc. (TLI), Fairfield, OH, a 41-year-old manufacturer and distributor of commercial lighting fixtures. The company currently employs 40 people at its 52,500-sq-ft Fairfield manufacturing facility, which according to the press release houses a CSA-approved testing lab and an in-house powder-coating operation. TLI has no plans to move the facility at this time.
Michael Bellos, TLI’s co-owner and president, oversees all engineering and product development for TLI, and he will remain with the company post-close. His brother David Bellos, currently co-owner and CEO, is reducing his administrative responsibilities within the business but will remain at TLI during the transitional period.
Roebling Capital Partners has identified an industry executive with over 30 years of experience in the lighting industry to serve as incoming CEO and run the day-to-day operations of TLI post-close. Scott Manley, formerly with FC Lighting Group, LSI, Hubbell and also TLI in years past, will assume the role of CEO once the post-close transition period has been completed. David Bellos will work alongside Manley to ensure a successful transition.
David Bellos, said in the press release, “My brother Michael joined the company over 20 years ago, and we have been working diligently to perpetuate the TLI brand throughout the industry. We have employees that have been here 30 years and are like family. Both Michael and I wanted to ensure that the company, and every employee, are protected through this transition.
“I am happy to have Roebling behind us because they will stand behind the growth and the team. I have known Scott Manley for almost as long as I’ve owned the company and I am confident in his ability to take TLI to the next level.”
“I’m looking forward to working with the teams at TLI and RCP to implement solutions in our existing TLI markets,” said Manley, the incoming CEO, in the press release.
Terms of the deal have not been disclosed.