The terms of the agreement include a cash payment of
“Atlas’ line of quick-ship standard products, including floods, wallpacks, linear, pole mount, and high bay fixtures, complement LSI’s custom product lines with minimal overlap, providing our customers with a very complete LED lighting product portfolio. LSI intends to keep the Atlas brand, a well-regarded name in the electrical distribution market, and we will maintain independent agent networks for both the LSI and the Atlas product lines. During our early integration planning, we have identified numerous product cross selling opportunities thereby providing an increased range of products to sales agencies and distribution partners in both sales channels, and resulting in synergistic revenue growth opportunities at LSI.
“In addition to LSI’s and Atlas’ complementary product lines, we anticipate significant cost synergies with this acquisition. Atlas has forged sourcing channels in
“Over the course of the past several months I have become very impressed with Atlas’ management group, and am pleased to welcome all of its employees to LSI. We intend to maintain the Atlas facility in
“Given the complementary product offerings of LSI and Atlas, combined with the expected revenue and cost synergies, I anticipate that this acquisition will be accretive to LSI’s results beginning in fiscal 2018, and will accelerate our efforts to achieve above-market rate revenue growth and improve our gross and operating margins. It is an exciting time to be in the lighting industry, and I am confident that the combination of LSI and Atlas will provide numerous growth opportunities.”
LSI will host a conference call to discuss this acquisition on
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About the Company
We are a customer-centric company that positions itself as a value-added, trusted partner in developing superior image solutions through our world-class lighting, graphics, and technology capabilities. Our core strategy of "Lighting + Graphics + Technology = Complete Image Solutions" differentiates us from our competitors.
We are committed to advancing solid-state LED technology to make affordable, high performance, energy-efficient lighting and custom graphic products that bring value to our customers. We have a vast offering of innovative solutions for virtually any lighting or graphics application. In addition, we provide sophisticated lighting and energy management control solutions to help customers manage their energy performance. Further, we provide a full range of design support, engineering, installation and project management services to our customers.
We are a vertically integrated U.S.-based manufacturer concentrating on serving customers in
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Additional note: Today’s news release, along with past releases from
DENNIS WELLS(513) 793-3200