Levine Leichtman Capital Partners (LLCP) has announced that its portfolio company Luminator Technology Group has completed the acquisition of certain assets and equity holdings of DRI Corporation, a designer and manufacturer of electronic destination signs.
DRI Corporation manufactures, sells and services Mobitec® and TwinVision® electronic information display systems. The company is based in Research Triangle Park, NC (www.digrec.com).
Luminator is a supplier of information systems, LED displays and lighting products for a range of applications in metropolitan and commercial transportation systems including systems for the rail, bus and aerospace industries. The company serves municipal transportation systems throughout the world with 70 of the largest 100 municipalities in North America and Europe as customers. Luminator is also a supplier of LED lighting products to commercial and military aircraft manufacturers. The company was founded in 1934 and is based in Plano, TX (www.luminatortechnologygroup.com).
“The DRI acquisition is an important strategic addition to the Luminator platform, which will strengthen the company’s product offering and significantly expand its international presence. The transaction will be highly accretive and generate significant synergies that will ultimately provide value to the company’s stakeholders,” said Lauren Leichtman, Co-Founder and CEO of LLCP.
Levine Leichtman Capital Partners manages approximately $5 billion of capital through private equity partnerships, distressed debt and leveraged loan funds. The firm is currently making new investments through Levine Leichtman Capital Partners IV, L.P., Levine Leichtman Capital Partners Deep Value Fund, L.P., and Levine Leichtman Capital Partners SBIC Fund, L.P. The firm is based in Los Angeles, CA with offices in Chicago, IL; Dallas, TX; and New York, NY (www.llcp.com).