Acuity Brands announced that its wholly-owned subsidiary, Acuity Brands Lighting, has entered into a purchase agreement to acquire all of the equity interests of The Luminaires Group (TLG) including its five lighting brands: a-light, Cyclone, Eureka, Luminaire LED and Luminis.
TLG generates annual sales of approximately US$100 million and employs over 350 associates located across five locations in the U.S. and Canada. Each TLG brand has its own business focus on indoor architectural lighting, outdoor decorative luminaires, indoor and outdoor contemporary decorative lighting, vandal-resistant lighting, and a wide range of indoor and outdoor specification lighting products for commercial and institutional applications.
The acquisition of TLG will enhance Acuity Brands’ lighting portfolio in architectural solutions. Meanwhile, Acuity Brands will bring its connected, smart lighting expertise to the TLG brands with its lighting controls and networking systems.
Management expects that the acquisition will be immediately accretive to fiscal 2020 earnings. Terms of the purchase agreement are not disclosed. Management anticipates the acquisition will be completed by the end of the month.