Revolution Lighting Technologies Acquires Portfolio of LED Products from CMG Energy Solutions
Transaction Broadens Product Portfolio and Strengthens Distribution Network
STAMFORD, Conn.-- Revolution Lighting Technologies, Inc. (NASDAQ:RVLT) (“Revolution Lighting”), a leader in advanced LED lighting technology, today announced it has acquired a portfolio of general illumination LED lighting products, including several product lines from CMG Energy Solutions (“CMG”).
Under the terms of the agreement, Revolution Lighting acquired CMG’s Energy Star-listed architectural, PAR lamps and spotlights for indoor commercial applications. CMG’s LED products will be rebranded under Seesmart, Revolution Lighting’s brand for indoor LED applications.
“In acquiring this portfolio of CMG’s Energy Star applications, we are adding a set of highly complementary and unique products to broaden our existing offering and increase revenues,” said Charlie Schafer, President and Chief Financial Officer of Revolution Lighting Technologies. “Combining these product lines with our existing leading indoor presence will drive new market penetration, increase our competitiveness for indoor commercial opportunities, strengthen our distribution network, and add value to our customers looking for Energy Star rebates.”
Financial terms of the transaction were not disclosed.
About Revolution Lighting Technologies Inc.
Revolution Lighting Technologies, Inc. is a leader in the design, manufacture, marketing, and sale of light emitting diode (LED) lighting solutions focusing on the industrial, commercial and government markets in the United States, Canada, and internationally. Through advanced technology and aggressive new product development, Revolution Lighting has created an innovative, multi-brand, lighting company that offers a comprehensive advanced product platform. The company goes to market through its Seesmart brand, which designs, engineers and manufactures an extensive line of high-quality interior and exterior LED lamps and fixtures; Lighting Integration Technologies Inc., which sells and installs Seesmart products; Lumificient, which supplies LED illumination for the signage industry; Relume Technologies, a leading manufacturer of outdoor LED products; and Sentinel, a revolutionary patented and licensed monitoring and smart grid control system for outdoor lighting applications. Revolution Lighting Technologies markets and distributes its product through a network of independent sales representatives and distributors, as well as through energy savings companies and national accounts. Revolution Lighting Technologies trades on the NASDAQ under the ticker RVLT. For additional information, please visit: www.rvlti.com.
About CMG Energy Solutions
CMG Lighting is a trusted supplier for a wide range of eco-friendly lighting solutions. A brand of CMG Energy Solution and CM Global, the company was started in 2001 to focus on utilizing the latest technologies to meet the ever changing customer demands in the areas of signage and lighting. CMG’s products meet and exceed industry standards for quality and performance, with UL or ETL safety certifications, FCC certifications and Energy Start listings. For more information, please visit: http://www.cmglighting.com/
Cautionary Statement for Forward-Looking Statements
Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties, including the anticipated benefits of the CMG Energy Solutions acquisition and statements relating to the anticipated future growth and profitability of our business. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Reference is made to Revolution Lighting's filings under the Securities Exchange Act for additional factors that could cause actual results to differ materially, including our history of losses, the potential for future dilution to our existing common stockholders, our status as a controlled company, the risk that demand for our LED products fails to emerge as anticipated, competition from larger companies, and risks relating to third party suppliers and manufacturers, as well as the other Risk Factors described in Item 1A of our Form 10-K for the fiscal year ended December 31, 2012. Revolution Lighting Technologies, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements.
ICR
Anton Nicholas, 203-682-8200
Anton.Nicholas@icrinc.com
or
Cory
Ziskind, 203-682-8200
Cory.Ziskind@icrinc.com
Source: Revolution Lighting Technologies, Inc.
Released October 7, 2013
