Corinthian Capital Group LLC has acquired Best Lighting Products Inc from Wafra Partners. No financial terms were disclosed. Based in Pataskala, Ohio, Best Lighting is a maker of private label emergency and exit lighting products.
Wafra Partners LLC and its affiliates (“Wafra”)* are pleased to announce the sale of Best Lighting Products, Inc. (“Best Lighting”) to an affiliate of Corinthian Capital Group, LLC. Headquartered in Pataskala, OH, Best Lighting is the leading designer and manufacturer of private label emergency and exit lighting products in the United States, serving a large and diverse base of customers. The company sells a diverse portfolio of lighting products across the commercial, industrial and institutional lighting industry primarily to manufacturers and OEMs.
According to Michael Goodman, a Managing Director at Wafra, “We were pleased to have had the opportunity to work closely with management in order to transition Best from being a relatively small family owned business. Through the implementation of various organization development initiatives, Best is now a rapidly growing company that is no longer solely dependent on third party manufacturers, has improved product development capabilities and on-time delivery rates, develops higher quality products and has better supply chain management. Best expanded its OEM relationships and significantly increased its revenue and profitability. We enjoyed working with Jeff Katz and his management team and wish them well with their new partners.”
Jeffrey Katz, CEO of Best Lighting said, “Working with Wafra Partners has been a great experience. They provided management with the financial and strategic support necessary to help us achieve our goals. We are now in a position to further accelerate growth with the help and resources of our new partners.” Best was originally founded by Jeffrey Katz, and his father, Alvin Katz.
Based in New York, Wafra Partners LLC and its affiliates focus on investing in traditional middle-market companies and partnering with continuing management to develop and execute its strategic growth plan. Wafra can invest up to $30 million of equity per transaction and has a particular interest in consumer products, consumer-driven services, outsourced business services and niche manufacturing.
For more information, visit www.wafrapartners.com.
* Wafra Investment Advisory Group, Inc. serves as investment advisor to the investment referred to herein. Wafra Partners LLC seeks companies within the parameters and sectors set out above.