Tonka Bay Equity Partners has acquired LightMart, a distributor and manufacturer of outdoor industrial and commercial lighting products.
LightMart offers a wide selection of light poles in square and round designs, made from steel, aluminum, and fiberglass, for use in parking lots, streets, and sports lighting. The company’s LED fixture lineup includes area lights, floodlights, high bays, and canopy lights.
Additionally, LightMart provides light pole installation kits, which include mounting brackets, base covers, and anchor bolts. Its customer base includes electrical contractors, distributors, and other end users in the industrial and commercial markets. The company also offers services such as powder coating for durable finishes, CNC machining, and welding for custom fabrication. LightMart was founded in 1998 and is headquartered in Lake Zurich, Illinois, located northwest of Chicago.
Tonka Bay partnered with Sami and Lori Ozgen, the founders of LightMart, on this transaction. “We are incredibly proud of the reputation LightMart has earned in the outdoor lighting industry,” said the founders in a statement. “Partnering with Tonka Bay marks an exciting new chapter. We are confident their resources and expertise will help LightMart grow while maintaining the standards and culture that have always been at the heart of our business.”
“Sami and Lori built an exceptional company with a strong reputation in the outdoor lighting market that has been focused on meeting the specific needs of their diverse customer base,” said Zach Huston, a director at Tonka Bay. “We are excited about partnering with LightMart to expedite growth through strategic investments and operational excellence.”
Tonka Bay invests in companies with a minimum of $3 million in EBITDA. Sectors of interest include highly engineered manufacturing, value-added distribution, and business services. The firm, founded in 1998, is based in Minnetonka, a suburb of Minneapolis. In August 2020, Tonka Bay closed its fourth fund, Bayview Capital Partners IV LP, with $200 million in capital commitments.
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