Inverness Graham has acquired EiKO Global, a distributor of branded LED (light emitting diode) lamps and fixtures, as a first step in building a larger LED lighting platform.
EiKO Global has more than 5,000 SKU’s and sells its products, through same‐day shipments and two‐day turnarounds, to more than 1,700 US customers that are active in the electrical, commercial, audiovisual, medical, photographic, and stage/studio markets. EiKO, led by CEO Rick Laird, was founded in 1978 and is headquartered in Shawnee, KS with additional distribution facilities in Sparks, NV; near Philadelphia in Pennsauken, NJ; and Houston, TX (www.eiko.com).
“Over the past several years, EiKO has delivered revenue and EBITDA growth that has outpaced the market,” said Mr. Laird. “We believe the partnership with Inverness Graham and their strong operational focus will support our fulfillment optimization and expand our new product offerings and customer base. We are proud of what we’ve accomplished so far but look forward to what the future holds with Inverness Graham.”
“The EiKO opportunity arose from a proactive search in the lighting market,” said Michael Morrissey, Managing Principal of Inverness Graham. “The company is well positioned to continue to benefit from the conversion to LED solutions from traditional fluorescent lighting. EiKO’s broad product portfolio, coupled with its ability to quick‐ship products sets the company apart. We intend to leverage EiKO’s unique position within the lighting marketplace to drive both acquisitive and organic growth initiatives.”
Inverness Graham manages $500 million in capital and was formed by senior executives of the Graham Group, an industrial and investment concern with interests in plastics, packaging, recycling, building products and outsourced manufacturing. Inverness Graham is based near Philadelphia in Newtown Square, PA (www.invernessgraham.com).
© 2018 Private Equity Professional | June 15, 2018