PowerSecure, which focuses on a variety of energy products and services, said it was expanding its LED business with the purchase of Connecticut-based Solais Lighting.
Solais provides LED lamps and fixtures that are focused on commercial and industrial uses. PowerSecure already offers a number of LED products and services.
“The expertise Solais has demonstrated in developing best-in-class innovative technology in parallel with some of the most effective sourcing, procurement and manufacturing in the industry will provide us with catalysts to accelerate the growth and profitability of our LED lighting business,” said Sidney Hinton, chief executive officer of PowerSecure, in a statement.
“James and the accomplished Solais leadership team bring additional strength to PowerSecure and experience with distributor channel relationships that add to our new ESCO product channel and broaden our product offerings to our direct customers and utility partners,” Hinton added.
PowerSecure says it expects the deal will be "slightly accretive" to revenues and earnings this year.
