Batteries Plus Bulbs, a portfolio company of Roark Capital Group and an operator and franchisor of Batteries Plus Bulbs stores, has acquired LED Hut, a European provider of light emitting diode lighting products, including bulbs and light fixtures.
“LED Hut is the online market leader in the UK, with a growing presence in pan-European markets as well. They have a dynamic management team that we believe can grow the company even faster with the support of our resources,” said Russ Reynolds, CEO of Batteries Plus Bulbs. “We consider this more of a merger as we also believe LED Hut’s online expertise will help us with our Omni channel vision here in the US.”
Jonathan Ruff, the founder and Managing Director of LED Hut, will continue to lead the company. “Our team was looking for a partner that will support our rapid growth. We believe Batteries Plus Bulbs is the right partner to enable our business to expand and grow throughout Europe,” said Mr. Ruff.
LED Hut provides light emitting diode lighting products to businesses and consumers located throughout Europe. According to the company, LED Hut is the leading online marketer of LED light bulbs under its proprietary Lumilife product brand. LED Hut was founded in 2011 and is headquartered in Jersey (Channel Islands) with an operational base in Manchester, UK (www.ledhut.co.uk).
Batteries Plus Bulbs is an operator and franchisor of Batteries Plus Bulbs stores with a nationwide network of over 625 stores in 47 states and Puerto Rico. The company has approximately 45,000 SKU’s of batteries, light bulbs and accessories. The company also offers on-site repairs for Apple devices, including iPhones, iPads and iPods, and most Samsung devices. The company was founded in 1988 is based west of Milwaukee in Hartland, WI (www.batteriesplus.com). Roark Capital Group acquired Batteries Plus in November 2007.
Roark Capital Group invests in consumer and business services companies, with a focus on the franchise, food and restaurant, specialty retail, environmental services, waste management, and marketing services sectors. The firm has $3 billion in equity capital under management and is based in Atlanta (www.roarkcapital.com).
2014 PEPD • Private Equity’s Leading News Magazine • 9-8-14