Pfingsten has acquired San Diego-based Environmental Lights, a provider of commercial accent LED lighting. No financial terms were disclosed. Lincoln International LLC and Canaccord Genuity LLC provided financial advice to Environmental Lights on the deal.
Chicago, IL – November 26, 2019
Pfingsten announces the acquisition of Advanced Lighting Concepts, LLC d.b.a. Environmental Lights (“Environmental Lights” or “Company”) in partnership with the Company’s founders, Greg and Anne Thorson, and management.
Headquartered in San Diego, CA, Environmental Lights is a leading designer and provider of commercial accent LED lighting, specializing in highly engineered systems that create differentiated visual experiences. The Company’s products are sold via direct sales engineers that develop custom lighting solutions for applications in retail, scenic/stage, exhibit, hospitality, audio visual and architectural.
“Environmental Lights delivers innovative products that enhance surroundings and drive strong visibility for pre-eminent brands, productions and events,” said Scott Finegan, Managing Director at Pfingsten. “We are excited to support the growth of Environmental Lights and will invest in people and product development. We also plan to pursue strategic add-on acquisitions that will provide value to the customer base.”
“Pfingsten is an ideal partner for Environmental Lights,” said Greg and Anne Thorson, co-founders of Environmental Lights that retained equity ownership in the Company. “We are very excited for the future of the business.”
“Pfingsten’s experience in the lighting industry, growth-oriented approach and focus on the customer will enable us to continue delivering industry-leading products and solutions with superior technical service,” said Jamison Day, CEO of Environmental Lights, who will continue to lead the business with Jordan Brooks, President.
Pfingsten acquired the Company on November 22, 2019, marking the tenth platform investment for Pfingsten’s $382 million Fund V. Lincoln International LLC and Canaccord Genuity LLC acted as financial advisors for Environmental Lights and Sheppard, Mullin, Richter & Hampton LLP served as legal counsel. Paul Hastings LLP served as legal counsel to Pfingsten.
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL and representative offices in ChangAn, China, New Delhi, India and Chennai, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 139 manufacturing, distribution and business services companies. For more information, visit pfingsten.com.
About Environmental Lights
Environmental Lights was founded in 2006 in San Diego, California, and has been listed on the Inc. 5000 as one of the fastest-growing private companies in America seven years in a row. We transform environments with LED lighting technology by engineering our customers’ visions into innovative solutions. We partner with our customers from project inception, through planning, specification and installation of their LED lighting systems to ensure we create solutions that match their exact needs.