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Pompeo August

TOUNGE Associates & POMPEO GROUP Announce Sale of iWorks to Bukas Lighting Group

TOUNGE Associates in affiliation with POMPEO GROUP is pleased to announce their latest transaction

TOUNGE Associates in affiliation with POMPEO GROUP advised iWorks in the sale of the Company to the Bukas Lighting Group, a St. Charles, IL. based lighting group. The purchase includes iWorks (iworksus.com) which produces high end hospitality fixtures and its divisions, Light Annex portable guestroom lighting for hospitality (lightannexus.com), DAS Decorative Architectural Screens (dasus.com), and Sirmos small batch, luxury interior fixtures (sirmos.com). Bukas Lighting Group also owns FC Lighting, Solid State Luminaires (SSL), Paramount Industrial Lighting, and SPI Lighting, all of which are vertically integrated businesses producing specification grade commercial LED lighting products.

BUKAS

Business Description: Headquartered in Commerce, California, iWorks is a leading manufacturer of high quality architectural, specification grade LED lighting fixtures. For over 30 years, iWorks has been the hospitality industry’s leading custom public space and guest room lighting manufacturer for upscale properties.

Objective: The Founder wanted to execute an exit strategy while at the same time finding the right strategic partner to help them move the Company to the next level. Founder Eric Dortch commented: “Tounge Associates [with Pompeo Group] brought the right Buyer at the right time to accomplish my goals for succession and growth plus they stayed with the deal through several major challenges to the eventual successful Close.”

Transaction: TOUNGE Associates, as the Company’s exclusive M&A advisor, worked with the Company ownership to evaluate the exit strategy, then provided services including but not limited to valuation advisory, a confidential structured sale process and deal negotiation. TOUNGE Associates was selected by the Com- pany due to its senior level attention to transaction execution combined with POMPEO GROUP’s deep industry experience and their global network of lighting relationships and contacts.

Lighting is rapidly changing, with many strategic players (some Private Equity backed) who are looking to grow through acquisitions to enhance product lines and build market share. We believe the next few years will continue to be very acquisitive so if you are thinking of selling in the next few years now is the time to start planning. Contact us for a free Confidential call to discuss your options: Jeff Tounge, President, Tounge Associates 207.712.1452 [email protected] or Paul Pompeo, President, Pompeo Group 505.271.5353 [email protected].