Acquisition strengthens Luminance Brands' presence and capabilities in the global ceiling fan market
LOS ANGELES, May 7, 2019 /PRNewswire/ -- Luminance Brands today announced that it has acquired Emerson Air Comfort Products from Emerson (EMR). The acquired product lines from Emerson will enable Luminance Brands to expand its product offering in the global ceiling fan market.
This acquisition will bolster the current Concord Fan division and will enable the company to address a broader segment of the rapidly growing ceiling fan market. Additionally, Luminance Brands plans to incorporate several of Air Comfort Product's upcoming smart fan product lines into its BryteHome division, which addresses the connected home market.
"We are excited to add Emerson's Air Comfort Products group to the Luminance Brands family of companies," said Christopher Larocca, President and Chief Executive Officer of Luminance Brands. "Emerson introduced its ceiling fans to the market in 1895 and has remained a technology leader in the space. We look forward to continuing the tradition of innovating and delivering differentiated products to the market for many years to come."
Luminance Brands intends to open a sales and design center in the St. Louis area to accommodate the Emerson employees transitioning to Luminance Brands.
Terms of the transaction were not disclosed.
ABOUT LUMINANCE BRANDS
Since 1951, Luminance has delivered distinctively decorative lighting alongside unparalleled quality and world-class service. Luminance Brands offers a unique collection of lighting solutions under five distinctive brands: Sunset Lighting residential fixtures; Concord Fans; BryteHome IoT-based lighting solutions; ADL lighting components and electrical parts; and Hallmark Lighting custom fixtures. Conveniently located in California, Texas, New York, Missouri and Illinois, Luminance Brands takes pride in offering in-stock product with same-day shipping from all five of its distribution centers. www.LuminanceBrands.com
ABOUT RESILIENCE CAPITAL PARTNERS
Headquartered in Cleveland, Ohio, Resilience invests in niche-oriented manufacturing, value added distribution and business service companies with sustainable market positions and a clear path to cash flow improvement. Resilience targets platform businesses with $25 million to $250 million in revenues across a broad range of industries where it can improve a company's operations, competitive positioning and profitability. Resilience manages in excess of $685 million for its global investor base which includes pension funds, insurance companies, foundations and endowments, fund of funds and family offices. For more information, please visit www.resiliencecapital.com.
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