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Delta Acquires Lighting Solution Brand Amerlux
To Enhance its IoT-based Green Solutions for Smart Buildings and Cities
TAIPEI, March 8, 2019 – Delta Electronics, Inc. (hereinafter referred to as “Delta”), a global provider of power and thermal management solutions, and Amerlux, LLC (hereinafter referred to as “Amerlux”), a U.S.-based LED architectural lighting solutions company, today announced the signing of a definitive agreement pursuant to which Delta Electronics (Netherlands) B.V., a wholly-owned subsidiary of Delta, will acquire 100% of Amerlux's interests for USD 90,000,000 (approx. NTD 2,769,300). The transaction is expected to close during the second quarter of 2019. The aforementioned agreement includes an earn-out mechanism in which Delta will pay an additional pre-established amount for the transaction should Amerlux's 2019 EBITDA(1) and revenue reach a predetermined target.
Building automation has become a major focus for Delta's long-term growth strategy. The proposed acquisition is expected to benefit customers with a broader portfolio of Delta IoT-enabled smart green solutions for sustainable buildings and cities, which already includes building automation, energy management, commercial and industrial LED lighting, surveillance, as well as indoor environmental quality systems. Delta's chief executive officer, Mr. Ping Cheng, indicated, “As a world-class corporate citizen committed to enabling energy conservation and lower carbon emissions for mankind, Delta continues to broaden its solutions portfolio to improve the energy efficiency, security and comfort of buildings and cities. Lighting is an integral focus for Delta because, in the IoT era, it is an ample source of crucial data for the optimization of smart automation systems. Amerlux has a strong reputation in the field of architectural LED lighting, which we believe will enhance Delta's profile as a total solutions provider. The combined offering of our companies will deliver substantial advantages to our customers and channel partners. Amerlux's existing facilities in Oakland, New Jersey will continue to produce interior and exterior lighting products, and the current management and employees of Amerlux will remain in place.” Frank P. Diassi, founder and chairman of Amerlux, said, “Since its inception, Amerlux has consistently grown its revenue base to become a world-class provider of high-end architectural lighting luminaries. Our products have been certified in over 58 countries throughout the world. Since the introduction of LEDs approximately ten years ago, the market has grown more and more sophisticated in its technology. The initial phase of LED marketing was simply the replacement of incandescent luminaries and focused primarily on energy savings. The current phase of LED marketing focuses on the quality of the light produced by the LEDs. We are now entering the third phase of LED marketing which involves controls of the luminaries, a technology in which Delta excels. The combination of Delta and Amerlux will accelerate the development of solutions for smart buildings and sustainable cities.” Chuck Campagna, president and CEO of Amerlux, stated, “We are delighted to become part of Delta as this will help Amerlux become a total lighting systems provider. Delta's comprehensive portfolio of products and solutions in the areas of smart building automation and energy management can be integrated with Amerlux's line of LED luminaries. By complementing strengths from both sides, we will be able to provide enhanced value to our customers and further our position in the smart lighting market.” New Jersey-based Amerlux is a leading brand of architectural LED lighting solutions. The company offers innovative high-end indoor and outdoor luminaires with a focus on lighting quality, energy efficiency and aesthetics. The company has fostered long-lasting relationships with global customers in a wide range of applications by providing high-quality and differentiated lighting products. In recent years, Delta has been enhancing its broad portfolio of smart green solutions to further the development of smart low-carbon buildings and cities. The acquisition of building automation system providers, Canadian-based Delta Controls and Austria-based LOYTEC, as well as the acquisition of a considerable stake in Taiwan-based surveillance systems provider Vivotek, Inc. are pillars of that strategy. Amerlux will complement Delta's total offering in and around the building space, by bringing its exceptional product portfolio, industry reputation, and strong customer relationships. (1) EBITDA: Earnings before interest, taxes, depreciation and amortization.
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