Orion Energy Systems Inc., Mantitowoc, WI, a publicly traded provider of energy-efficient LED lighting, control and IoT systems, including turnkey project implementation, program management and system maintenance, acquired Stay-Lite Lighting, a nationwide lighting and electrical maintenance service provider. The acquisition accelerates the growth of the Orion Maintenance Services business, which provides lighting and electrical services to customers.
“The acquisition of Stay-Lite Lighting into the Orion portfolio adds high-profile retail customers, self-performing capabilities in 15 states and a nationwide network of service coverage,” Mike Altschaefl, Orion CEO and board chair, said in the press release. “This will substantially benefit our current and future customer base as it immediately expands our service and maintenance network, capabilities and offering while adding 50 years of lighting industry experience and technical knowledge.
“We have been significantly expanding our lighting maintenance business with our largest retail customers, and this acquisition will allow us to continue to grow our recurring revenues and more quickly support the needs of our customers.”
An active member of the International Association of Lighting Management Companies (NALMCO), Stay-Lite Lighting, Pewaukee, WI, provides self-performing services such as indoor and outdoor lighting repairs, sign repairs and manufacturer warranty support, among other services.
Stay-Lite Lighting will operate as Stay-Lite, an Orion Energy Systems business. It has annual revenues of approximately $9 million. Bridgewood Advisors acted as advisors to Orion, and Taureau Group acted as advisors to Stay-Lite Lighting.