August 2, 2024
Saylite Reportedly Closing, Affecting Multiple Brands
Mobern, Lights Fantastic, and other brands reportedly face shutdown as Saylite exits market
Saylite, previously known as Texas Fluorescents and Fleco Industries, has reportedly informed employees that it will cease operations on September 29, 2024. The shutdown will affect not only Saylite but also some of its affiliated brands, including Mobern, Lights Fantastic, and Lights Fantastic Pro (LFP). These brands, which focused on providing budget-friendly lighting solutions for commercial and residential markets, will seemingly be discontinued.
These brands were known for offering economical lighting products, though they did not stand out as major players in the commercial industrial lighting industry in recent years. The company did seemingly have good traction in the multi-family residential sector. The shutdown may also reportedly lead to the closure of multiple LFP showrooms in Texas.
In 2019, Saylite was acquired by CORE Industrial Partners, a Chicago-based private equity firm investing in North American lower middle-market manufacturing and industrial technology businesses. Reports of Saylite’s impending shutdown began surfacing on Wednesday, based on information from people close to the situation. As of press time, neither Saylite nor Core Industrial Partners have confirmed the details. Similar developments have also been reported by EdisonReport.
Saylite has informed stakeholders that while it will continue shipping orders until September 29, it has stopped purchasing new raw materials, which may limit its ability to fulfill certain orders.
Core Industrial Partners' Portfolio
Core Industrial Partners, which owns Saylite, holds a diverse portfolio of companies across different industries, including lighting. While Saylite is shutting down, another lighting company in the portfolio, Kelvix, based in Oregon, seems to be unaffected by these changes. This suggests that the issues leading to Saylite's closure may be specific to its business operations rather than a broader problem within Core's lighting investments.
Above: A snapshot of Core Industrial Partners’ lighting brands. Kelvix, Vantage Lighting and possibly other brands are reportedly unaffected by the reported shutdown.
Earlier in 2023, Saylite expanded by acquiring Vantage Lighting, a Rhode Island-based manufacturer of downlights, cylinders, and high bays. Vantage served various markets, including healthcare and education. However, with Saylite's closure, the future of Vantage under Core Industrial Partners remains unclear, with one report informing us that the brand will not be part of the shutdown.
Mixed Reactions and Lack of Clarity
Despite its long-standing presence in the industry, Saylite and its associated brands did not seem to have a particularly strong commercial/industrial market position in recent years, and their closure may not have a significant impact on the broader commercial and industrial lighting industry. The company was reputed to have pockets of strength in residential markets, particularly the multi-family sector.
Attempts to gather more information from one of Saylite’s associated showrooms were met with resistance. An individual at Charleston Lighting and Interiors, who identified herself as a manager named Michelle, abruptly directed us on Thursday not to publish information about her company and rudely ended our phone conversation before we asked our first question. Her startling overreaction made us wonder if she was dealing with some life-changing news when we called.
As the purported September 29 closure date approaches, the true impact on all of Saylite’s brands, locations, partners and employees remains speculative. With official confirmations still pending from Saylite and Core Industrial Partners, the industry watches.
