Acuity Brands Announces Acquisition of WhiteOptics
Source: Nasdaq GlobeNewswire / 20 Jun 2019 09:10:28 America/New_York
Atlanta, June 20, 2019 (GLOBE NEWSWIRE) --
Acuity Brands, Inc. (NYSE: AYI) today announced it has acquired WhiteOptics, L.L.C. (WhiteOptics®), a New Castle, DE-based 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. WhiteOptics’ transmissive products include optics that improve the quality of light to support a favorable Unified Glare Rating (UGR) and superior luminaire efficiency and energy savings. The convergence of these benefits is in sync with market trends toward lower glare LED solutions that also meet stringent energy requirements.
“Optical systems have become increasingly complex as LED technology has evolved,” said Tommy Harris, Vice President – Indoor Product Solutions, Acuity Brands Lighting. “WhiteOptics has a broad offering of optical materials to further enhance the performance of our commercial and architectural products. These materials enable more visual comfort, unique light distributions, and three-dimensional images that can enhance the look and feel of a space.”
“Acuity Brands has always valued optical performance,” said Eric Teather, President, WhiteOptics. “Our advanced materials and processing technology will allow Acuity to increase their offering of unique and advanced designs to its customers.”
The acquisition is not expected to materially impact the Company’s fiscal 2019 consolidated financial performance. Terms of the acquisition were not disclosed.
About Acuity Brands
Acuity Brands, Inc. (NYSE: AYI) is the North American market leader and one of the world’s leading providers of lighting and building management solutions. With fiscal year 2018 net sales of $3.7 billion, Acuity Brands currently employs approximately 12,000 associates and is headquartered in Atlanta, Georgia with operations throughout North America, and in Europe and Asia. The Company’s products and solutions are sold under various brands, including Lithonia Lighting®, Holophane®, Aculux®, American Electric Lighting®, Antique Street Lamps™, Atrius™, DGLogik™, Distech Controls®, DTL®, eldoLED®, Gotham®, Healthcare Lighting®, Hydrel®, Indy™, IOTA®, Juno®, Lucid®, Mark Architectural Lighting™, nLight®, Peerless®, RELOC® Wiring, ROAM®, Sensor Switch®, Sunoptics® and Winona® Lighting. Visit us at www.acuitybrands.com
Forward Looking Information
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that may be considered forward-looking include statements incorporating terms such as "expects," "believes," "intends," “estimates”, “forecasts,” "anticipates," “could,” “may,” “should”, “suggests,” “remain,” and similar terms that relate to future events, performance, or results of the Company and specifically include statements made in this press release regarding WhiteOptics’ industry-leading technology will further enhance Acuity’s market position in commercial lighting, and the expectation that the acquisition of WhiteOptics will not have a material impact on the fiscal 2019 consolidated financial performance of Acuity Brands. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the historical experience of Acuity Brands and management's present expectations or projections. These risks and uncertainties include, but are not limited to, customer and supplier relationships and prices; competition; ability to realize anticipated benefits from initiatives taken and timing of benefits; market demand; litigation and other contingent liabilities; and economic, political, governmental, and technological factors affecting the Company. Please see the other risk factors more fully described in the Company’s SEC filings including risks discussed in Part I, “Item 1a. Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended August 31, 2018. The discussion of those risks is specifically incorporated herein by reference. Management believes these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations. Further, forward-looking statements speak only as of the date they are made, and management undertakes no obligation to update publicly any of them in light of new information or future events.
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