Revolution Lighting Technologies, Inc. announced it has acquired Tri-State LED in a cash and stock transaction. Terms of the transaction were not disclosed.
Based in Greenwich, CT, Tri-State LED is a leading distributor of Revolution Lighting’s Seesmart LED lighting solutions with a significant client base across the Tri-State area that includes municipalities, major school systems, hospitals, convention centers and real estate developers.
“Our strong dealer and distributor network is one of our key differentiators and drivers of growth,” said Robert V. LaPenta, Chairman and Chief Executive Officer of Revolution Lighting Technologies. “We are in the unique position of being able to purchase the best performing dealers and distributors in our network and provide them with the resources they need to grow both of our businesses. We will continue to make similar acquisitions that drive revenue growth for Revolution Lighting.”
“Led by a high-quality and experienced management team, Tri-State LED is one of our most successful distributors with an impressive, long-term customer base and a rich pipeline of add-on and new LED implementation projects,” added Charlie Schafer, President and Chief Financial Officer of Revolution Lighting Technologies. “The Tri-State LED team is intimately familiar with our broad product line and by adding capital resources and a complete administrative support structure, they will be well-positioned for seizing on large scale opportunities that otherwise would not have existed for them.”