M&A Deal Summary

Acuity Brands Acquires IOTA Engineering

On May 1, 2018, Acuity Brands acquired electrical equipment company IOTA Engineering from Industrial Growth Partners

Acquisition Highlights
  • This is Acuity Brands’ 12th transaction in the Electrical Equipment sector.
  • This is Acuity Brands’ 16th transaction in the United States.
  • This is Acuity Brands’ 1st transaction in Arizona.

M&A Deal Summary

Date 2018-05-01
Target IOTA Engineering
Sector Electrical Equipment
Buyer(s) Acuity Brands
Sellers(s) Industrial Growth Partners
Deal Type Add-on Acquisition

Target

IOTA Engineering

Tucson, Arizona, United States
IOTA Engineering LLC is a maker of back-up power supply equipment for commercial, industrial and institutional emergency lighting applications. The Company provides a comprehensive portfolio of products that supplies light fixtures with emergency power to maintain code-compliant illumination after loss of power. IOTA is a market innovator that has developed a number of technology solutions (some patented) for LED lighting applications that have the broadest compatibility in the industry. The Company, founded in 1968, is well-positioned to continue its growth given its broad and comprehensive product line and its industry-leading reputation for technology, quality and superior customer service.

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Buyer(S) 1

Buyer

Acuity Brands

Atlanta, Georgia, United States

Category Company
Founded 2001
Sector Electrical Equipment
Employees12,000
Revenue 4.0B USD (2023)
DESCRIPTION

Acuity Brands is a provider of lighting solutions for both indoor and outdoor applications. The Company's lighting solutions are sold under various brands, including Lithonia Lighting, Holophane, Peerless, Gotham, Mark Architectural Lighting. Acuity Brands was founded in 2001 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 19 of 24
Sector (Electrical Equipment) 12 of 15
Type (Add-on Acquisition) 19 of 24
State (Arizona) 1 of 1
Country (United States) 16 of 20
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-12 Lucid Design Group

Oakland, California, United States

Lucid Design Group, Inc. is a provider of building analytics through its industry-leading BuildingOS® business intelligence platform. Lucid provides a data and analytics platform to make data-driven decisions to improve building efficiency and drive energy conservation and savings. Its SaaS-based BuildingOS platform enables owners, operators, and occupants to gain powerful insights into the operations of their buildings, providing the ability to make them more efficient and improve the performance of the people and businesses utilizing these strategic assets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-20 WhiteOptics

New Castle, Delaware, United States

WhiteOptics LLC is a manufacturer of advanced optical components used to reflect, diffuse and control light for LED lighting used in commercial and institutional applications. WhiteOptics’ product portfolio includes light guide plates, optical diffusers and innovative micro-structure lenses that provide a unique three-dimensional appearance.

Buy -

Seller(S) 1

SELLER

Industrial Growth Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Industrial Growth Partners (IGP) is a private equity firm that invests in privately held, lower middle-market manufacturing and manufacturing services companies. Specific areas of interest include industrial components and equipment, electrical and electronic equipment, process instrumentation and controls, analytical instruments and measuring devices, filtration and pumps, specialty chemicals, plastics, and healthcare/safety equipment. Prospective transaction situations include management buyouts, leveraged buyouts, corporate divestitures, recapitalizations, management buy-ins, and growth capital financings. Target companies typically are profitable and have annual revenues up to $250 million. IGP was formed in 1997 and is based in San Francisco, California.


DEAL STATS #
Overall 22 of 34
Sector (Electrical Equipment) 4 of 6
Type (Add-on Acquisition) 9 of 18
State (Arizona) 1 of 1
Country (United States) 22 of 33
Year (2018) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-01 FMH Aerospace

Irvine, California, United States

FMH Aerospace Corporation is a manufacturer of complex,highly-engineered, flight-critical components and assemblies, including metal bellows, bellow joints, metal ducting and metal hoses, for the commercial aerospace, defense, space and industrial markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-20 Grakon

Seattle, Washington, United States

Grakon LLC is a designer and manufacturer of highly-engineered and customized lighting systems and components for transportation markets. Grakon was founded in 1977 and is based in Seattle, Washington.

Sell $420M