MONTREAL, QUÉBEC--(Marketwired - March 24, 2015) - Lumenpulse Inc. (TSX:LMP), a leading manufacturer of high-performance, specification-grade LED lighting solutions, announced today that it has acquired all of the shares of SDL Lighting Inc. ("SDL"), a designer and manufacturer of outdoor LED luminaires, for a total cash consideration of $3.2 million1.
The transaction is in line with Lumenpulse's growth strategy, adding fully complementary LED solutions to the product portfolio to expand the addressable market; and accelerating entry into the high performance architectural, area, urban, pedestrian and professional landscape lighting segments.
SDL, a privately owned company, started as a custom manufacturer in Québec City, Canada. Over the last five years, it has focused on product development, designing and manufacturing its own line of LED lighting solutions. Today, SDL's portfolio counts more than 150 products including bollards, columns, pole-top and building-mounted luminaires.
The company has been most active in the Québec, British Columbia, Alberta and South Florida regions, illuminating a wide range of institutional, commercial and urban environments, including outdoor public spaces, corporate campuses, parks, hotels, shopping centers, access roads and parking lots.
"SDL products are known for their performance and attractive design, which makes them a good fit with the Lumenpulse philosophy. We intend to upgrade these products even further with our proprietary and patented technologies. Effective immediately, they are integrated into the Lumenpulse product portfolio and offered under a new brand: Lumenarea. These new families reinforce our capacity to provide end-to-end solutions by addressing many applications together," said François-Xavier Souvay, President and CEO of Lumenpulse.
"By leveraging our strong network of agents and value-added resellers (VARs) in North America, there is great potential to propel these high-performance products beyond current markets and drive revenue growth. Internally, the acquisition also gives us the opportunity to add an experienced team of industry professionals t`o the Lumenpulse ranks. We are very pleased to be joining forces with SDL," concluded Mr. Souvay.
Stéphane Doiron, President and CEO of SDL, will serve as a consultant to Lumenpulse following completion of the transaction.
"This opportunity will provide SDL with the distribution channels required to take our business to the next level, enabling us to offer our products across North America and eventually into international markets. We are excited about the possibilities that lie ahead," Mr. Doiron said.
Total revenues for SDL were approximately $2.7 million for its fiscal year ended December 31, 2014.
Conference Call
Lumenpulse has scheduled a conference call to discuss the acquisition on Tuesday, March 24, 2015, beginning at 11:00 A.M. (EDT). This conference call will be broadcast live on the Internet at the following link: Listen to webcast. A slideshow presentation intended for real-time viewing with the conference call will also be available. Alternatively, investors may join by dialing in North America: 1-844-825-4409 (conference ID: 8283730). This webcast will be archived at www.lumenpulse.com/en/investors.
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information includes, but is not limited to, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. This forward-looking information is identified by the use of terms and phrases such as "may", "would", "should", "could", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", or "continue", the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors identified in the Company's annual information form filed with the Canadian securities regulatory authorities, which is available on the SEDAR website at www.sedar.com. There can be no assurance that such information will prove to be accurate, and readers are cautioned not to place undue reliance on this forward-looking information. Forward-Looking information is provided for the purposes of assisting the reader in understanding the Company's financial performance, financial position, cash flows, its business, operations, prospects and risks at a point in time, and to present information about management's current expectations and plans relating to the future and therefore the reader is cautioned that such information may not be appropriate for other purposes.
About Lumenpulse Inc.
Founded in 2006, Lumenpulse designs, develops, manufactures and sells a wide range of high performance and sustainable specification-grade LED lighting solutions for commercial, institutional and urban environments. Lumenpulse is a leading pure-play specification-grade LED lighting solutions provider and has earned many awards and recognitions, including several Product Innovation Awards (PIA), three Next Generation Luminaires Design Awards, a Red Dot Product Design Award and a Lightfair Innovation Award. Lumenpulse has more than 410 employees worldwide, with corporate headquarters in Montreal, Canada, and offices in Boston, Paris, London and Manchester. Lumenpulse is listed on the Toronto Stock Exchange under the symbol LMP.
Additional information about Lumenpulse, including its 2014 Annual Information Form, is available at www.lumenpulse.com and on the SEDAR website at www.sedar.com.
1Incdudes the assumption of debt of $0.1 million and working capital of $0.1 million, both subject to customary post-closing adjustments.