Stone Arch Capital, a Minneapolis-based private equity firm, has partnered with experienced lighting executive David Komonosky to acquire Delray Lighting (“Delray” or the “Company”). Delray is a leading manufacturer of energy-efficient, specification grade, architectural LED lighting fixtures.
Founded in 1991 by Steve Feig, Delray designs and manufactures LED lighting fixtures for a variety of end markets including education, healthcare, commercial office, retail and hospitality. Delray’s customer service and unique products have cemented its status as a strong brand within the architect and design community.
Prior to his role at Delray, Mr. Komonosky was a founder and principal at Performance Lighting Systems, a southern California-based lighting rep agency. Prior to founding Performance Lighting Systems, Mr. Komonosky founded 16500, a Bay Area-based lighting rep agency.
“Delray has an outstanding reputation and track record spanning over 25 years. We are excited about the organic growth potential of the business, as well as the opportunity to expand through acquisition.” said Joel Grebenick, Managing Director of Stone Arch Capital. “We are fortunate to have David Komonosky lead our effort in the space.”
Mr. Komonosky commented: “I am passionate about the lighting industry and will build upon Delray’s strong reputation and foundation to become the most coveted manufacturer on anyone’s line card. I’m looking forward to developing new and innovative products with the stellar team already in place. I have a lot to say, and I’m going to say it through Delray Lighting!”
Mr. Feig commented: “This marks the beginning of an exciting chapter for Delray. The team at Stone Arch has a successful history of working with entrepreneur-owned businesses like Delray. The combination of experience between Stone Arch and David Komonosky, along with the rest of the Delray team, has me very excited for what lies ahead.”
Stone Arch and Mr. Komonosky are searching for additional complementary businesses to partner with in the lighting space. If interested in learning more, please contact Joel Grebenick at [email protected]
Delray Lighting, LLC (“Delray”) is a leading manufacturer of energy-efficient, specification grade, architectural LED lighting fixtures. The Company’s core product families include circular, linear, pendants, and cylinders. Delray sells its products across the U.S. and Canada with a strong presence in Los Angeles, San Francisco, New York City, Seattle, and Chicago. The Company utilizes an agency network to sell its products to a diverse customer base of distributors and general contractors across various commercial end markets, including healthcare, education, commercial, retail, and hospitality. For more complete information, please visit the Company’s website at www.delraylighting.com.
Stone Arch Capital makes equity investments in leading private companies with revenues typically ranging from $20 million to $150 million. The Stone Arch Capital team has over 100 years of experience investing in and building businesses in a wide variety of industries and markets. Stone Arch Capital pursues niche market leaders that display strong profit margins, consistent profitability and generate high cash flow. For more complete information, please visit the Company’s website at www.stonearchcapital.com.