Revolution Lighting to buy Value Lighting; shares jump

• Revolution Lighting Technologies (OTC: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)