Revolution Lighting buys distributor, shares fall

|About: Revolution Lighting Technol... (RVLT)|By:, SA News Editor

Revolution Lighting (RVLT -4.3%) has acquired Tri-State LED, a distributor of LED Lighting products made by Seesmart, another recent Revolution M&A target (TheStreetSweeper wasn't a fan). Terms are undisclosed; Revolution says it's paying with both cash and stock.

Revolution claims Tri-State "has a significant client base" across the NY/NJ/CT area, one that includes "municipalities, major school systems, hospitals, convention centers and real estate developers."

Shares are now down 47% from their July high of $5.50, but still up 360% YTD.

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