ForceField Energy, international manufacturer, seller, and distributor of energy products and solutions, recently announced that it had finalized the purchase of the assets of Catalyst LEDs LLC. As a provider of customized LED lighting products and solutions, Catalyst LEDs LLC and its cost-cutting, energy-efficient lighting products will strengthen ForceField Energy's product portfolio and market reach throughout North America. ForceField Energy's acquisition of Catalyst LEDs LLC also gives it a direct-to-consumer, web-based platform that will strengthen ForceField Energy's marketing of its existing product lines.
It was reported that ForceField Energy had purchased Catalyst LEDs LLC's assets for a combination of cash and its common stock. The transaction's specific terms were not disclosed.
Catalyst LEDs LLC serves as an authorized vendor for a number of leading companies, including General Motors. The company offers a broad range of LED products and customized solutions which are intended for commercial and retail customer audiences. It also has designed a number of lighting systems for multiple industries and collaborated with energy-management companies, electrical supply houses, and electricians throughout North America.
The Catalyst LED brand name, product lines, and website will be maintained, so as to build upon Catalyst LEDs LLC's established recognition within the LED industry. Catalyst LEDs LLC's founder and President, Cory Turnbull will join ForceField Energy as its Director of LED Sales in the United States.
Stéphane Vachon, Vice President of Operations for ForceField Energy, remarked, "With Cory Turnbull and the Catalyst brand name, we have strengthened our ability to offer significant value to commercial and retail LED customers throughout North America. Cory is a highly respected and talented individual, and we feel very fortunate to welcome him aboard our team. He has realized excellent success at Catalyst, and we look forward to him continuing that momentum with ForceField Energy."
Mr. Vachon added, "We believe that the strategy and value behind this transaction will be very compelling to our shareholders. This was a unique opportunity for us to acquire an asset and customer base at an attractive price; and that strengthened our product offering as well as adding a multi-million dollar bid pipeline that ranges from small- to Fortune 500-sized businesses. By combining our distribution networks and access to capital markets with Catalyst's demonstrated capabilities and products, we believe that we can expand our footprint in the North American and international marketplaces."
Mr. Turnbull further emphasized the synergy created by ForceField Energy's strategic acquisition of Catalyst. "This acquisition was the perfect opportunity to join an emerging company with excellent LED products and solutions, and strong international distribution capabilities. Having a broader product portfolio will enable us to develop unique plans for our customers to reduce their energy consumption, improve sustainability, and realize a greater return on investment. I look forward to working with the ForceField Energy team to leverage our collective strengths and take ForceField Energy to the next level," Mr. Turnbull stated.
For more information, visit: forcefieldenergy.com
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