In a deal valued at $97.5 million all-in, LSI Industries Inc., Cincinnati, has acquired Atlas Lighting Products Inc., Burlington, NC, a move that LSI executives say creates a much more complete and balanced company to compete in the LED lighting market.
The attraction of the deal is strategic and it lies in the companies’ complementary product lines and routes to market, Dennis Wells, CEO and president of LSI, told analysts in an phone conference last month. There’s little overlap in the products manufactured by the two companies and their channel strategies are likewise different. Atlas Lighting sells shelf-good lighting products through electrical distributors. LSI, in contrast, is most active in the project-based market, making custom lighting products sold through lighting specification agents. Combined, the companies can cover both sides of the channel, Wells said.