January 7, 2026
Teron Lighting Closes Amid Ongoing Private Equity Exits
Exit follows 2025 trend of PE selloffs and shutdowns outpacing new acquisitions
The first week of 2026 brings another telling moment for the commercial lighting industry: Teron Lighting has shut down.
The Cincinnati-area manufacturer, known for its budget-friendly lighting fixtures with a touch of aesthetic ambition, is now closed after more than four decades in business. The closure adds to a growing list of at least ten North American lighting and controls manufacturers that wound down operations in 2025 — a year marked more by private equity selloffs than strategic acquisitions.
Teron was founded in 1980 by David and Michael Bellos and operated independently for over 30 years before being acquired by Kichler Lighting in 2011. That deal, which insiders suggest may have ended at a loss for Kichler, ended in 2018 when the Bellos brothers bought the company back. At the time, the move was credited with preserving dozens of jobs and returning local control.
But their second stint was short-lived. In April 2021, the company was sold to Roebling Capital Partners, a Cincinnati-based private equity firm making its first acquisition under its debut fund. Roebling brought in industry veteran Scott Manley to lead the company and publicly emphasized plans for growth, market expansion, and operational investment.
Less than five years later, the company has gone dark.
A Broader Pattern of PE Exits
The timing of the closure reflects a broader trend across the lighting and electrical industries. Inside Lighting’s recent 2025 acquisitions review demonstrated that private equity firms were largely absent from the buyer side last year — but have been very active sellers. The ongoing furlough extensions at PE-owned Cree Lighting, alongside multiple manufacturer shutdowns, further illustrates this dynamic.
Roebling Capital Partners, which lists only a small group of portfolio companies, has not publicly commented on the shutdown. Terms of its 2021 Teron acquisition were never disclosed, but the arc of the deal — founder sale, buyback, private equity sale, closure — raises familiar questions about the sustainability of private equity timelines in niche manufacturing segments.
Budget-Conscious Fixtures With a Design Niche
Teron wasn’t a top-tier brand, but it carved out a steady presence among national accounts and value-oriented commercial projects. Their catalog leaned into everyday categories — indoor and outdoor spec-grade fixtures—but with options aimed at slightly elevating standard applications. Diffuser styles, finish choices, and other touches gave specifiers ways to check both the price and design boxes.
Though not flashy, the company developed a reputation for responsiveness and practical customization within budget limits. Their products were often found in hospitality, institutional, and other cost-sensitive environments.
For Teron, the end came without much noise. And for the industry, it’s one more data point in an increasingly clear pattern.
