October 11, 2024
Saylite Set to Auction Off Stock, Machinery and Buildings
Texas manufacturing site, showrooms and $11.2 million in inventory up for bid
The liquidation of Saylite’s assets is underway as the company recently ceased operations and is now seeking to monetize remaining assets. Boston-based Gordon Brothers is overseeing the sale of Saylite’s machinery, inventory, and real estate.
This auction follows Saylite's announcement earlier this year that it would cease operations by September 29, 2024, a decision that has impacted numerous brands owned by private equity firm, Core Industrial Partners, and affiliated with Saylite.
Notable Auction Items
Among the items up for sale are several key properties and assets that have been integral to Saylite’s operations and those of its related brands, such as LFP. The sale includes intellectual property and trade names associated with Saylite (formerly Texas Fluorescents) and its affiliated brands. In addition, the inventory, spread across five locations, is reportedly valued at approximately $11.2 million, while a variety of machinery is also included separately.
Texas Manufacturing Facility
The Carrollton, Texas manufacturing plant, located at 2055 Luna Road, is one of the most significant properties on the auction block. The facility, spanning approximately 184,902 square feet, was a key link in Saylite’s production chain. The building also houses inventory from multi-family residential lighting division with stock valued at roughly $2.1 million. The facility is under lease until July 2028 at a rate of $101,000 per month, making it a noteworthy asset for potential buyers looking to enter or expand within the lighting industry.
Showrooms in Major Texas Markets
Saylite’s showrooms in Austin, Dallas, Houston, and Lewisville are also available for acquisition. These sites have historically served as important customer interaction hubs for Saylite's commercial and residential lighting products.
- Austin Showroom (7532 Burnet Rd): This 13,931-square-foot facility holds inventory worth $767,000 and is leased at $19,000 per month, with the lease expiring in December 2024.
- Dallas Showroom (4645 Greenville Ave): A 15,000-square-foot showroom, carrying $699,000 in inventory, is leased for $28,000 per month, with a lease end date of December 2024.
- Houston Showroom (4205 Pinemont Dr): Spanning 23,250 square feet and containing $412,000 in inventory, this location’s lease is set at $14,000 per month, also expiring in December 2024.
- Lewisville Showroom (2525 E. State Highway 121): The largest of the showrooms, this 19,227-square-foot space has inventory worth $919,000. Its lease, at $12,000 per month, runs until March 2031, making it a particularly long-term investment opportunity.
Machinery and Inventory
Saylite’s extensive inventory of lighting products and parts, with an estimated value of $6.3 million, is up for sale alongside manufacturing machinery and fixed assets. These items, integral to Saylite's ability to produce efficient LED lighting products, offer considerable value to industry players looking to acquire high-quality equipment and materials. The company’s focus on innovative LED lighting systems, which serve both standard and custom designs, has left behind valuable production assets now available to the highest bidder.
Auction Process and Details
Gordon Brothers is conducting the sale by private treaty, allowing interested parties to bid on individual items or purchase larger portions of the business’s assets.
The auction marks the end of Saylite’s five-decade presence in the lighting industry, where the company was known for offering budget-friendly lighting solutions. As Saylite prepares to permanently close its doors, the sale of its assets presents an opportunity for its parent company, Core Industrial Partners, to recoup part of the investment made during its 2019 acquisition of Saylite.
