See below for the latest big news items regarding products, resources and announcements from Hartwell Cook & Associates.
Demand for lighting equipment jumped 4.4% between the second and third quarters of 2015 to achieve what the National Lighting Bureau hails as “the best quarterly performance since the second quarter of 2008.”January 2016 Learn More
The LED revolution is over. To no one’s surprise, LEDs have won. Solid-state lighting is changing how we light the world, successfully displacing traditional illumination sources across every part of the global lighting market. Over the next few years, billions of sockets will be in play.December 2015 Learn More
ATLANTA, October 29, 2015 - Acuity Brands, Inc. (NYSE: AYI) ("Company") today announced that it has entered into an agreement to acquire all of the equity interests of Juno Lighting LLC ("Juno Lighting Group"), a leading provider of downlighting and track lighting fixtures for both residential and commercial applications. Juno Lighting Group, a unit of Schneider Electric, serves customers throughout North America, including electrical distributors, lighting showrooms, homecenters, contractors, architects, engineers, lighting designers and commercial facilities. Juno Lighting Group operates manufacturing facilities in Des Plaines, Illinois, and Fishers, Indiana, and generates current annual revenues of approximately $250 million. Vernon J. Nagel, Chairman, President, and Chief Executive Officer of Acuity Brands, commented, "We are very excited about this strategic opportunity that will allow us to provide customers with an enhanced and broader set of lighting solutions for both residential and commercial applications. Juno Lighting Group is a widely-recognized and well-respected brand in the industry and its product offering is highly complementary, with minimal overlap, to our industry-leading portfolio. We believe the combination of our dynamic businesses and strong leadership teams will provide growth opportunities with key customer sets and benefit our primary sales channel partners in their respective markets. We expect this acquisition will be accretive to our fiscal 2016 earnings while also providing a foundation to enhance the longer-term financial performance of Acuity Brands."October 2015