Revolution Lighting to buy Value Lighting; shares jump

Revolution Lighting Technologies (RVLT) has agreed to acquire Value Lighting and certain affiliates for $35.6M plus $3.5M in debt in a cash and stock deal. Revolution Lighting could make further payments of up to $10M in milestones.

Revolution Lighting expects to receive at least $9M of working capital in the deal, which allows the company to enter the "fast growing multifamily residential housing sector."

Value Lighting generated 2013 revenues of $43M and expects sales of $55M in 2014, with EBITDA in excess of 12% in both years.

Revolution Lighting's shares surge 14.9%. (PR)

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs