Revolution Lighting Expands in LEDs
LED lightbulb and signage company Revolution Lighting Technologies got a little bigger on Monday.
This morning, the Stamford, Conn.-based manufacturer announced that it has bought a portfolio of general illumination LED lighting products from CMG Energy Solutions (CMG) for an undisclosed sum. These products include several complete product lines of CMG Energy Star-listed architectural, PAR lamps, and spotlights for use in indoor commercial applications.
In a statement, Revolution Lighting Chief Financial Officer Charlie Schafer noted that CMG's products are both "unique" and also "highly complementary" to Revolution's own product lines. The company intends to rebrand them under its own Seesmart brand.
Schafer noted further that Revolution Lighting expects to increase its revenues from selling the new product lines. The unprofitable company did just under $16 million in business last year, and grew revenues nearly 600% in the most recent quarter.
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