umenpulse Inc. (TSX: LMP), a leading manufacturer of high-performance, specification-grade LED lighting solutions, announced today that it has acquired all of the shares of SDL Lighting Inc. (“SDL”), a designer and manufacturer of outdoor LED luminaires, for a total cash consideration of $3.2 million.
The transaction is in line with Lumenpulse’s growth strategy, adding fully complementary LED solutions to the product portfolio to expand the addressable market; and accelerating entry into the high performance architectural, area, urban, pedestrian and professional landscape lighting segments.
SDL, a privately owned company, started as a custom manufacturer in Québec City, Canada. Over the last five years, it has focused on product development, designing and manufacturing its own line of LED lighting solutions. Today, SDL’s portfolio counts more than 150 products including bollards, columns, pole-top and building-mounted luminaires.
The company has been most active in the Québec, British Columbia, Alberta and South Florida regions, illuminating a wide range of institutional, commercial and urban environments, including outdoor public spaces, corporate campuses, parks, hotels, shopping centers, access roads and parking lots.
“SDL products are known for their performance and attractive design, which makes them a good fit with the Lumenpulse philosophy. We intend to upgrade these products even further with our proprietary and patented technologies. Effective immediately, they are integrated into the Lumenpulse product portfolio and offered under a new brand: Lumenarea. These new families reinforce our capacity to provide end-to-end solutions by addressing many applications together,” said François-Xavier Souvay, President and CEO of Lumenpulse.
“By leveraging our strong network of agents and value-added resellers (VARs) in North America, there is great potential to propel these high-performance products beyond current markets and drive revenue growth. Internally, the acquisition also gives us the opportunity to add an experienced team of industry professionals t`o the Lumenpulse ranks. We are very pleased to be joining forces with SDL,” concluded Mr. Souvay.
Stéphane Doiron, President and CEO of SDL, will serve as a consultant to Lumenpulse following completion of the transaction.
“This opportunity will provide SDL with the distribution channels required to take our business to the next level, enabling us to offer our products across North America and eventually into international markets. We are excited about the possibilities that lie ahead,” Mr. Doiron said.
Total revenues for SDL were approximately $2.7 million for its fiscal year ended December 31, 2014.