M&A Deal Summary

LSI Industries Acquires JSI Store Fixtures

On May 24, 2021, LSI Industries acquired manufacturer JSI Store Fixtures from RFE Investment Partners and MTN Capital Partners for 90M USD

Acquisition Highlights
  • This is LSI Industries’ 1st transaction in the Manufacturing sector.
  • This is LSI Industries’ 2nd largest (disclosed) transaction.
  • This is LSI Industries’ 3rd transaction in the United States.
  • This is LSI Industries’ 1st transaction in Maine.

M&A Deal Summary

Date 2021-05-24
Target JSI Store Fixtures
Sector Manufacturing
Buyer(s) LSI Industries
Sellers(s) RFE Investment Partners
MTN Capital Partners
Deal Type Add-on Acquisition
Deal Value 90M USD

Target

JSI Store Fixtures

Milo, Maine, United States
JSI Store Fixtures is a designer and manufacturer of high-quality refrigerated and non-refrigerated wood merchandising displays for the supermarket industry. JSI Store Fixtures was first to market with a patented line of closed-cell foam merchandising surfaces for produce. JSI Store Fixtures’ merchandising displays are used by many of North America’s top supermarkets, grocery, and food retail chains. JSI was founded in 1991 and is based in Milo, Maine.

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Buyer(S) 1

Buyer

LSI Industries

Cincinnati, Ohio, United States

Category Company
Founded 1976
Sector Electrical Equipment
Employees1,900
Revenue 497M USD (2023)
DESCRIPTION

LSI Industries is a provider of affordable, high performance, energy efficient lighting and graphic products. LSI Industries was founded in 1976 and is based in Cincinnati, Ohio.


DEAL STATS #
Overall 3 of 4
Sector (Manufacturing) 1 of 2
Type (Add-on Acquisition) 2 of 3
State (Maine) 1 of 1
Country (United States) 3 of 4
Year (2021) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-21 Atlas Lighting Products

Burlington, North Carolina, United States

Atlas Lighting Products, Inc. is a manufacturer of high-quality LED lighting products sold into the electrical distribution market. Atlas Lighting Products, Inc. was established in 1992 and is headquartered in Burlington, North Carolina.

Buy $98M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-18 EMI Industries

Tampa, Florida, United States

EMI Industries is a metal and millwork manufacturer of standard and customized fixtures, displays, and food equipment for the convenience store, grocery, and restaurant industries. EMI Industries is based in Tampa, Florida.

Buy $50M

Seller(S) 2

SELLER

RFE Investment Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1979
Size Large
Type Sector Agnostic
DESCRIPTION

RFE Investment Partners is a private equity firm focused on investing in lower middle-market service, manufacturing and healthcare service businesses. Prospective companies are generally profitable with annual cash-flow of at least $5 million. Target businesses also have proven management, defensible market positions, and 'a clearly identified and growing market'. RFE looks to commit $10 to $35 million of equity capital per transaction to support acquisitions, management led buyouts, and recapitalizations. RFE is licensed as a SBIC and was formed in 1979. RFE Investment Partners is based in New Canaan, Connecticut.


DEAL STATS #
Overall 14 of 14
Sector (Manufacturing) 2 of 2
Type (Add-on Acquisition) 5 of 5
State (Maine) 1 of 1
Country (United States) 14 of 14
Year (2021) 3 of 3
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-26 PCX Aerostructures

Newington, Connecticut, United States

PCX Aerostructures is a manufacturer of flight-critical and other essential components for rotorcraft and fixed-wing aerospace platforms serving military and commercial markets. PCX Aerostructures is based in Newington, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-06 Global Point Technology Group

Farmington, New York, United States

Global Point Technology Group is a provider of mechanical, electrical, and custom engineered products. They are committed to offering solutions and innovative high-quality products at competitive prices. Global Point Technology Group is based in Farmington, New York.

Buy -
SELLER

MTN Capital Partners

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

MTN Capital Partners LLC is a lower middle-market private equity firm focused on investing in North American companies. MTN will consider both healthy as well as distressed companies. Sectors of interest include manufacturing, business services, consumer products, specialty retail, restaurants, distribution, energy services, automotive, food/beverage, healthcare, marketing services, chemicals, and communications. For healthy companies, MTN targets businesses with at least $10 million in revenues and $2 to $15 million of EBITDA, and for distressed situations. MTN Capital Partners was founded in 2003 and is based in New York City.


DEAL STATS #
Overall 4 of 4
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Maine) 1 of 1
Country (United States) 3 of 3
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-28 Revolution Dancewear

Niles, Illinois, United States

Revolution Dancewear is a designer and marketer of specialty dancewear, footwear, and recital costumes. Revolution Dancewear was founded in 1996 and is based in Niles, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-13 Global Power Products

Lawrenceville, Georgia, United States

Global Power Products focused on developing products in the utility-grade electrical transfer switch, electric meter, and electric safety markets. GPP's switches allow for an effortless installation as compared to conventional switches. Global Power Products was formed in 1995 and is based in Lawrenceville, Georgia.

Buy -