Teron Lighting Acquired by P.E. Firm
(Cincinnati, OH– April 16, 2021) – Roebling Capital Partners (“RCP” or “Roebling”), a Cincinnati area lower middle market private equity investment firm, has agreed to acquire Teron Lighting, Inc. LLC (“TLI” or “the Company”). The deal comes just two months after RCP announced the final closing of its debut private equity fund, Roebling Capital Partners Fund I (the “Fund”).
Founded in 1980, TLI is a manufacturer and distributor of commercial lighting fixtures. TLI has a broad network of 80+ agents that serve the healthcare, assisted living, educational, government, hospitality, multi-family housing, and commercial channels. They are a leader in manufacturing energy-efficient, environmentally friendly lighting products that adhere to the Buy America Act and support the Energy Star rating system. TLI was one of the first companies to manufacture energy efficient lighting, as early as 1980.
TLI currently employs forty (40) people at their 52,500 sq. ft. manufacturing facility in Fairfield, OH, which houses a CSA-approved testing lab and an in-house powder coating operation. The Company has no plans to move the facility at this time.
Co-owner and President Michael Bellos oversees all engineering and product development for TLI; he will remain with the Company post-close. His brother David Bellos, currently Co-owner and CEO, is reducing his administrative responsibilities within the business; he will remain at TLI during the transitional period.
RCP has identified an industry executive with over 30 years of experience in the lighting industry to serve as incoming CEO and run the day-to-day operations of TLI post-close. Scott Manley, formerly with FC Lighting Group, LSI, Hubbell and also TLI in years past, will assume the role of CEO once the post-close transition period has been completed. David Bellos will work alongside Mr. Manley to ensure a successful transition.
Along with current TLI management and the incoming CEO, RCP will aid in propelling additional growth for TLI by facilitating strategic planning, investing in operations, and adding resources that complement the Company’s existing structure. TLI already has a number of growth initiatives that are driving recent growth, including product and market expansions.
“RCP’s core value is to work with companies that have strong historical brand recognition, quality products, strong management, and solid processes in place,” said Keith Carlson, Managing Partner at Roebling Capital Partners. “After extensive evaluation and discussions, we chose TLI as our first portfolio company because we feel they are well positioned for substantive growth,” he continued.
“We are happy to have a company the caliber of TLI for our first portfolio investment from RCP Fund I. We are excited about joining forces with TLI and its employees and beginning to execute on market growth objectives,” added Dan Magarian, Co-founder and Partner at Roebling Capital Partners.
David Bellos, current Co-owner and CEO, started TLI in 1980. He stated, “My brother Michael joined the company over 20 years ago, and we have been working diligently to perpetuate the TLI brand throughout the industry. We have employees that have been here 30 years and are like family. Both Michael and I wanted to ensure that the company, and every employee, are protected through this transition. I am happy to have Roebling behind us because they will stand behind the growth and the team. I have known Scott Manley for almost as long as I’ve owned the company and I am confident in his ability to take TLI to the next level.”
“I’m looking forward to working with the teams at TLI and RCP to implement solutions in our existing TLI markets,” said Mr. Manley, incoming CEO. “We will focus on sales, product development and service-based solutions to meet and exceed the demands of our existing and new customers. We have a great foundation for success, and RCP has proven experience that underscores exceptional opportunities for growth.”
Terms of the deal have not been disclosed.
About Roebling Capital Partners LLC
Roebling Capital Partners LLC makes controlling equity investments in lower-middle-market companies to provide liquidity to businesses who want to expand, grow, liquidate or sell their business. The team is comprised of sophisticated deal professionals with extensive experience in working out fair and honest transactions to help companies grow. For more, visit RCPprivateequity.com
About Teron Lighting, Inc. LLC
Teron Lighting, Inc. (“TLI”), a leader in commercial grade energy-efficient lighting solutions, is a nationally recognized Cincinnati-based company with over 40 years of experience in the design and manufacture of commercial grade lighting fixtures. TLI products are consistently sought after for their unique designs, cutting edge technologies and efficiencies by healthcare, assisted living, commercial, educational, government, hospitality and multi-family institutions. Visit TeronLighting.com for more information.
This communication does not constitute an offer to sell or the solicitation of an offer to buy any specific investment product sponsored by, or investment services provided by, RCP or its affiliates. Any such offer may be made only to qualified investors by means of delivery of a confidential Private Placement Memorandum or similar materials that contain a description of the material terms of such investment. No sale will be made in any jurisdiction in which the offer, solicitation, or sale is not authorized or to any person to whom it is unlawful to make the offer, solicitation or sale. Private investments involve a high degree of risk and therefore, should be undertaken only by prospective investors capable of evaluating and bearing the risks such an investment represents.
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