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© grzegorz kula dreamstime.com Business | August 23, 2013

Revolution Lighting closes acquisition of Relume

Revolution Lighting Technologies has closed its acquisition of Relume Technologies
Revolution Lighting’s newly acquired LED product portfolio will enable the Company to drive new market penetration and accelerate growth.

Revolution Lighting paid a total purchase price of USD15 million for the Relume business on a debt-free basis. Approximately USD5 million of the purchase price was paid in cash with the remaining value of USD10 million paid in Revolution Lighting common stock at a price of USD4.59 per share. The transaction is being financed by USD5 million in five-year preferred stock issued to RVL LLC, exchangeable into common stock at an exchange rate of USD4.59.

“Revolution Lighting has a vision to provide high quality, efficient and cost effective LED lighting systems through an active distribution network that educates, trains and services our customer base,” said Robert V. LaPenta, Chairman and Chief Executive Officer of Revolution Lighting Technologies. “Adding Relume’s expertise in LED outdoor lighting applications significantly enhances Revolution Lighting’s LED product portfolio, and will allow Revolution Lighting to reach new markets and offer new products and services to our existing customers.”

LaPenta concluded, “This acquisition is another step in the right direction for Revolution Lighting as we build a world class LED company that delivers the best results for our customers, employees and all stakeholders.”

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