ERP Power, a portfolio company of Angeles Equity Partners since June 2016, has acquired Lumenetix.
Lumenetix is a make of tunable LED light engines for commercial, residential and professional film/studio lighting applications. The company’s products, sold under the araya and blanco brands, are used by designers and LED fixture manufacturers to maximize aesthetics, comfort, wellness, and visual acuity provided by natural daylight.
Lumenetix was founded in 2008 and is headquartered near San Jose in Scotts Valley, CA (www.lumenetix.com).
ERP Power designs and manufactures LED driver power electronics for architectural, commercial and industrial lighting applications. ERP products are compact, have dimmer compatibility, wireless controls, and programmable output. The company was founded in 2004 and is based near Los Angeles in Moorpark, CA (www.erp-power.com).
“Two technology leaders focused on enabling broad adoption of tunable light and power across multiple markets is compelling,” said Jim Kingman, the founder and former CEO of Lumenetix, and now the executive vice president of ERP. “I am looking forward to playing a key role in the combined business.”
According to Angeles Equity, the combination of tunable light capabilities from Lumenetix with ERP’s LED driver power electronics will provide lighting designers with the industry’s first independent driver, light engine and digital controls embedded system. This will reduce original equipment manufacturer complexity and accelerate LED lighting fixture time to market. “We believe the combined company is uniquely positioned to deliver a differentiated and compelling value proposition to the lighting industry,” said Timothy Meyer and Jordan Katz, co-founders and managing partners of Angeles Equity in a released statement.
Angeles Equity makes control investments in companies with enterprise values up to $200 million that have headquarters and primary operations in the United States and Canada. Sectors of interest include aerospace, automotive, building products, capital goods, chemicals, electronics, manufacturing, metals, transportation & logistics, packaging and distribution. In January 2017, the firm closed Angeles Equity Partners I LP with $360 million in capital. The firm is headquartered in Los Angeles (www.angelesequity.com).
© 2019 Private Equity Professional | June 18, 2019