Valesco Industries and Corinthian Capital Group have acquired Illumination Enterprises and Trimlight of Salt Lake (together Trimlight), a provider of permanent exterior LED lighting systems, in partnership with the company’s founders and senior management team.
Trimlight designs, manufactures, and distributes permanent exterior LED lighting systems for accent lighting, holiday lighting, and security lighting. The company’s product line includes Trimlight Select Plus, an app-controlled permanent holiday and accent lighting system; Trimlight Edge, designed for commercial and municipal buildings; and Down Lighting, which mimics recessed can lights for security and aesthetic appeal.
Trimlight sells its products through a network of over 300 exclusive dealers to residential homeowners, commercial property managers, and municipalities across the United States and Canada. Trimlight was founded in 2010 by CEO Ryan Whittaker and is headquartered near Salt Lake City in West Jordan, Utah.
Now in partnership with Valesco and Corinthian, Trimlight will focus on expanding its market territory, building its dealer network, and developing new products.
“We are thrilled to partner with Corinthian and Valesco as we enter the next chapter of Trimlight’s growth,” said Mr. Whittaker. “Their experience and resources will help us expand our reach, better support our dealer network, and further establish Trimlight as the market leader in permanent lighting solutions.”
Trimlight’s growth aligns with rising demand for customizable lighting, particularly as smart home technology and home improvement projects gain traction. According to Statista, the global smart home market is projected to reach $231 billion by 2028, growing at a compound annual rate of 10.7% from 2023. Within this space, smart lighting represents one of the fastest-growing segments, as homeowners increasingly adopt programmable, app-controlled exterior lighting systems compatible with platforms such as Amazon Alexa, Google Assistant, and Apple HomeKit.
Rising interest in home aesthetics and increasing property values are also driving investment in exterior upgrades. Houzz’s 2024 U.S. Home Renovation Trends Report found that 45% of homeowners listed outdoor improvements, including lighting, as a top priority. This trend supports continued market momentum for companies offering customizable, tech-enabled exterior lighting solutions.
Both Valesco and Corinthian have experience in the lighting industry. In August 2015, Corinthian acquired Best Lighting, an Ohio-based designer and manufacturer of private-label emergency and exit lighting products; and in January 2018, Valesco made an investment in Principal Lighting Group (PLG), a manufacturer of LED components for the sign, architecture, and specialty lighting industries. Valesco exited its investment in PLG in November 2024, selling its interests to Wynnchurch Capital.
The acquisition of Trimlight is the fourth platform investment from Valesco’s third fund, which closed in July 2023 with an above-target $434 million of capital.
Valesco Industries, headquartered in Dallas, was founded in 1993 and is led by Bud Moore, Heather Hubbard, and Jack Sadden. The firm makes control and non-control investments of equity and subordinated debt in United States-based companies that have from $15 million to $100 million in revenue, a history of profitability, and at least $4 million of cash flow. Sectors of interest include manufacturing, value-added distribution, and business services.
Corinthian Capital targets investments in North America-based companies with revenues of $50 million to $300 million or EBITDA between $5 million and $30 million that are active in manufacturing, logistics, niche consumer products and services, healthcare, and infrastructure. The firm was founded in 2005 and is headquartered in New York City with an additional office near Boston in Hingham, Massachusetts.
FS Investments provided debt financing to support the acquisition of Trimlight, and D.A. Davidson & Co. was the financial advisor to Trimlight.
© 2025 Private Equity Professional | May 20, 2025
Ares Management has acquired a majority interest in Landscape Workshop, a provider of commercial groundskeeping services across the Southeastern United States, from Carousel Capital and McKinney Capital.
“This is a pivotal next step in Landscape Workshop’s journey and a credit to our exceptional team for their dedication to our disciplined growth strategy while maintaining quality service for our clients,” said Mr. Price. “As one of the largest landscaping companies in the nation, we have focused on establishing a strong culture of high-performance, collaboration and entrepreneurship that extends across our operations. We are thrilled to partner with Ares and leverage their investing experience to help accelerate our growth both organically and through acquisitions and create long-term shareholder value. Looking ahead, we remain steadfast in our commitment to provide great service to our customers and an exciting and supportive workplace for our current and future team members to succeed.”
New Mountain Capital has formed Smarter Technologies as a new healthcare administration and revenue management platform by combining its portfolio companies SmarterDx, Thoughtful.ai, and Access Healthcare.
“Amid rapid change in the healthcare sector, Smarter Technologies offers a unique, comprehensive, and `and revenue management technologies and capabilities,” said Mr. Delinsky. “I look forward to working with New Mountain and the accomplished, experienced teams across each business to collaborate, share insights and capabilities, and identify ways to both strengthen our industry leadership and innovate to better serve our clients across the healthcare market.”
Denali Growth Partners (DGP) has held a final close of Denali Growth Partners Fund II LP with $400 million in limited partner commitments, surpassing its $350 million target. DGP’s first fund closed in April 2021 with $203 million in capital.
Pfingsten Partners has acquired American Cutting Edge (ACE), a manufacturer and distributor of consumable industrial knives, blades, and razors.
“ACE’s critical, consumable product offering combined with their engineering capabilities, rapid fulfillment times and knowledgeable employees make them a true partner to their diverse customer base,” said Scott Finegan, senior managing director at Pfingsten. “We are thrilled to partner with ACE’s management team and look forward to supporting the company’s continued growth through enhanced sales and marketing initiatives, product introductions and new market penetration both organically and via add-on acquisitions.”
Caymus Equity has acquired Valley Lighting, a provider of lighting and shading services for commercial construction and renovation projects.
“Kathy, Tommy, and the Valley team have built a company with a well-earned reputation for excellence and long-standing customer relationships,” said Chris Faux, a partner at Caymus Equity. “Valley is exactly the type of business we look to back — operationally strong, customer-first, and poised for growth. Having recently exited a very successful investment in commercial HVAC, TriplePoint MEP, we quickly recognized the value of Valley’s business model and its customer-centric approach to more complex opportunities. We’re excited to help the company expand its geographic footprint and build on its legacy as a best-in-class lighting and shading partner.”
IX Capital Partners has made an investment in Teague Electric, a provider of residential, commercial, and industrial electrical services. Co-investing in this acquisition alongside IX Capital was Align Collaborate.
“This business has been a cornerstone in its community for decades,” said Julian Buegers, a partner at IX Capital. “Its commitment to technical excellence and people-first culture closely aligns with our firm’s values. We’re honored to continue building on that legacy.”
“Teague’s stellar reputation and solid operating foundation make the company an ideal platform for growth, and we’re excited to be working alongside Teague’s talented team,” said Mr. Nestor.
Dallas and Cleveland-based 
Nexa Equity has held a hard cap and oversubscribed final close of Nexa Equity Fund II LP with $390 million in capital commitments. Nexa is an investor in founder-led software businesses that operate in niche and underserved markets.
“We are honored by the support of our investors and energized every day by the founders who trust us to help bring their visions to life,” said Vlad Besprozvany, the founder and managing partner of Nexa Equity. “We are excited to keep building enduring, industry-shaping businesses together with our founders, limited partners, and the broader community.”
GI Partners has launched a new Managing General Agency (MGA) platform in partnership with insurance executives Brad Emmons and Brian Hanuschak.
Messrs. Emmons and Hanuschak have extensive operational and leadership experience. In 1998, Mr. Emmons co-founded Orchid Insurance, a Florida-based Managing General Underwriter (MGU) that specialized in catastrophe-exposed property insurance. MGUs are a type of MGA with a stronger focus on underwriting complex or specialty risks, often without handling policy issuance or claims. Mr. Emmons grew Orchid Insurance through acquisitions and private equity partnerships – Gryphon Investors in 2014 and TowerBrook Capital in 2018 – before selling the agency to publicly traded and Florida-based Brown & Brown in 2022. Most recently, Mr. Emmons was the CEO of Forza Insurance and is a board member and advisor to several insurance startups.
“We see significant opportunity in the MGA market, where specialized underwriting and scalable technology drive real differentiation,” said Steve Johnson, a director at GI Partners. “We have been actively evaluating opportunities across the MGA landscape, from founder-led firms to corporate carve-outs and sponsor-backed businesses. Brad and Brian are uniquely positioned to help us identify, partner with, and scale leading MGAs.”
“This launch reflects GI’s long-standing ambition to build great companies,” concluded Hoon Cho, a managing director and co-head of private equity at GI Partners. “We look forward to partnering with Brad and Brian to build a world-class MGA platform that creates compelling value for our carrier partners, management, employees, and investors.”
Mesirow has expanded its technology and services investment banking practice with the appointment of Bob Lockwood as a managing director. Mr. Lockwood will co-lead the technology and services practice, one of Mesirow’s ten investment banking verticals, along with Managing Director Shane McDaniel.
“Joining Mesirow Investment Banking represents a unique opportunity to be part of a scaled and growing firm with a long track record of success and a strong culture,” said Mr. Lockwood. “I’m excited to work alongside such a high-quality team, collaborate with Shane on advising clients across the technology and services sector, and I look forward to contributing to the firm’s accelerating momentum.”
“Bob joining the firm is a testament to the strength of our platform and the reputation we have built in the market. Our investment banking group is focused on attracting senior-level M&A talent and continues to grow organically, driven by referrals, shared values, and a collective focus on delivering successful outcomes for clients,” said Rocky Pontikes, a co-head of Mesirow Investment Banking.
“We’re thrilled to welcome Bob to Mesirow,” added Adam Oakley, a co-head of Mesirow Investment Banking. “His experience and collaborative approach align perfectly with Mesirow’s client-first culture and commitment to providing excellent service to our clients which include private company owners, private equity firms, family offices and large corporations.”
