Lumenpulse Inc., a manufacturer of high performance, specification-grade LED lighting solutions, announced that it has acquired Fluxwerx Illumination Inc., a privately owned, specification-grade LED lighting solutions provider based in British Columbia, Canada, for a total initial consideration of $60 million.
Fluxwerx is a manufacturer of innovative, high-performance, LED luminaires for the general lighting of commercial and institutional spaces, such as office, education and healthcare. The company was founded in 2011.
For fiscal year ended December 31, 2015, total revenue was $25.2 million compared to $9.6 million for the prior year. The company’s trailing-12-month total revenue for the period ended February 29, 2016 was approximately $27.8 million with a reported EBITDA of approximately $5.4 million.
“The merging of our organizations represents a major milestone that we believe will be transformational for the Lumenpulse Group, creating one of the most exciting and innovative companies in the LED lighting industry,” says François-Xavier Souvay, president and CEO of Lumenpulse.
“Fluxwerx has achieved impressive growth and market adoption by combining minimalist product design with an innovative, proprietary anidolic optical technology. In fact, they will be launching three new product lines late March. We see a great opportunity for cross-technology synergies that will provide a remarkable value proposition for our clients. We will also benefit from Fluxwerx’s experienced management team, which shares our vision of becoming a world leader in the LED lighting market,” says Souvay.