Globe Electric Company has acquired Heath Zenith, a Bowling Green, Kentucky-based provider of outdoor security lighting, decorative lighting and door chimes. No financial terms were disclosed. The seller was Transom Capital Group. Globe, a Montreal-based maker of consumer lighting and electrical products, was this year acquired by Novacap in partnership with Fonds de solidarité FTQ and Fondaction.
PRESS RELEASE
MONTREAL, Nov. 10, 2021 /CNW Telbec/ – Globe Electric Company (“Globe “), a Montreal-based company specializing in the design, development and manufacturing of innovative consumer lighting and electrical products, today announced that it has acquired HeathCo, an industry leading supplier of security lighting and door chimes, with a large portfolio of patented technologies and products. Leading private equity firm Novacap, who partnered with Globe in May 2021 to help it accelerate its growth trajectory, will continue to support the combined entity as it aims to broaden its product offering and distribution reach across North America.
Recognized for its best-in-class product offering of outdoor lighting, security and motion devices, HeathCo is renowned for the quality of its products. This strategic acquisition will allow Globe to deepen its market leading position in the lighting space by adding new technologies to strengthen it’s already deep portfolio of innovative products
“The acquisition of HeathCo marks a new chapter in Globe’s strategic development, and we are confident that their portfolio will enhance our competitive position in the outdoor security solutions market,” said Edward Weinstein, CEO, Globe. “This will be especially important as we continue to focus on developing new distribution channels across North America. Providing innovation and variety to our customers remains a priority for us, and we are confident that this acquisition will ensure that we continue to deliver above and beyond for our customers.”
“Novacap is thrilled to see the evolution of a great Canadian company like Globe as they deliver on their strategy to expand across new product verticals,” said Michel Côté, Senior Partner, Novacap. “With the acquisition of HeathCo, Globe will be well-equipped to maintain its market leadership position and generate increased growth in the interior and exterior lighting space.”
About Novacap
Founded in 1981, Novacap is a leading North American private equity firm with more than C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in TMT, Industries and now Financial Services, Novacap’s deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial funding, Novacap has the resources and knowledge to build world-class businesses. Novacap has offices in Brossard, Québec and Toronto, Ontario. For more information, please visit www.novacap.ca.
About Globe Electric
Globe Electric is a North American leader and innovator in lighting solutions, electrical products, and smart home systems. Coined the Creative Energy Company, Globe Electric is committed to continuous R&D, delivering the best quality products, and leaving a positive impact on the lives of consumers. Each product is Made with Respect™; our commitment extends to every person involved in the making of our products, from design to production to delivery, and to our shared natural environment. Globe Electric products can be found at retailers across North America and online. Founded in 1932, Globe Electric is headquartered in Montreal, Quebec. For more information visit globe-electric.com or contact press@globe-electric.com
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