Advanced Lighting Concepts (DBA Environmental Lights), a portfolio company of Pfingsten Partners, has acquired City Theatrical.
Environmental Lights is a designer and provider of commercial accent LED lighting used in retail, entertainment, trade show, hospitality, gaming and architectural applications. The company’s scope of services includes design, planning, specification and installation of LED lighting systems.
San Diego-headquartered Environmental Lights sells its products and services through an internal team of sales engineers and through its own e-commerce website. Pfingsten acquired Environmental Lights in November 2019 and the buy of City Theatrical is its first add-on acquisition for the company.
City Theatrical designs and manufactures LED lighting products, control technologies, and lighting accessories for use in theatre, stage, television, film and live event applications.
Specific company products include wireless DMX lighting controls, LED strips and accessories, spectrum analyzers, dimmers and beam control accessories. City was founded in 1986 and operates a 40,000 square foot manufacturing facility near New York City in Carlstadt, New Jersey.
“Environmental Lights is a strong cultural and strategic fit for City,” said Gary Fails, the founder and president of City Theatrical. “City’s partnership with Environmental Lights will greatly benefit our mutual customers with additional products, resources and capabilities.”
“We are thrilled to partner with City Theatrical,” said Brad Tedder, the CEO of Environmental Lights. “City’s best-in-class lighting, lighting control electronics and mechanical accessories coupled with outstanding product development capabilities are highly complementary with our existing product portfolio and will deepen our expertise in the theatre, stage, TV, film and live event marketplace.”
Chicago-based Pfingsten invests in middle-market manufacturing, distribution, and business services companies that have transaction values ranging from $15 million to $100 million, revenues from $20 million to $150 million, and EBITDA between $3 million and $12 million. Since completing its first investment in 1991, Pfingsten has acquired 163 such companies through five funds with total commitments of $1.3 billion.
© 2023 Private Equity Professional | July 13, 2023
