WESCO International has entered into a definitive agreement to acquire assets of Sylvania Lighting Solutions (“SLS”) from OSRAM Sylvania. One of EdisonReport’s sources said the deal was for less than 100 million euros ($114 million), but we do not have the exact number.
WESCO is expected to close the deal in March as it acquires the business operations of SLS in the United Sates and Canada. SLS’s CEO, Todd Myers, will continue to lead the 220 employees of Sylvania Lighting Solutions following the acquisition.
“We are strengthening our lighting solutions and services with the acquisition of SLS. SLS’s customer base, geographic footprint, and extensive project management capabilities complement our existing turn-key lighting renovation and retrofit offerings,” John J. Engel, WESCO Chairman, president, and CEO, said in a prepared statement. “We are very pleased to welcome the SLS team to WESCO and look forward to accelerating our results in the lighting marketplace.”
SLS had annual sales of more than $100 million and is headquartered in Wilmington, Massachusetts.
Read the full Press Release here.