April 15, 2013 - AMHERST, MA: Long River Ventures announced today that its portfolio company Solais Lighting, Inc., a manufacturer of specification-grade LED fixtures and lamps, has been acquired by PowerSecure International, Inc. (Nasdaq: POWR), a leading provider of utility and energy technologies to electric utilities and their industrial, institutional, and commercial customers. The acquisition strengthens and complements PowerSecure’s existing LED business with Solais’ demonstrated strengths in innovation, product design, manufacturing, marketing, and sales.
“We’re excited to combine the recognized strength and tremendous reputation of PowerSecure with Solais’ powerful brand and demonstrated expertise in the LED arena to accelerate our mutual growth in the marketplace, deliver exceptional value, and better serve our sales representatives, distributor partners, and end users,” said James Leahy, chief executive officer of Solais. “This acquisition will significantly expand opportunities for the market to enjoy the benefits of our cutting-edge, maximum-performing, and highly-efficient technology.”
Will Cowen, Managing Parter at Long River Ventures said, “We invested early in Solais because of their innovative actively cooled LED technology and their knowledge of the high performance end of the market. In three years the company has set a new standard for color quality, energy efficiency, and lumen output in commercial lighting. The acquisition by PowerSecure is a great outcome for our investors and provides the management team with a solid platform for continued growth.”
As part of the acquisition, Solais Lighting will continue to market under its existing brand name and sales channels to serve its retail, commercial, museum, and hospitality end-users with the lighting industry’s highest-performing LED fixtures and lamps.
About Solais Lighting, Inc.
Solais Lighting, a division of PowerSecure International, designs and manufactures the lighting industry’s highest-performing LED lamps and fixtures. With superior lumen output, center-beam candlepower, and overall aesthetics and performance, Solais LED products enhance the retail, commercial, museum and hospitality environments of the world’s leading brands. Founded by an expert team of lighting specialists, Solais relentlessly pushes the innovation envelope to create products that replace traditional lighting technologies with zero compromise to aesthetics and performance. To learn more about Solais, visit in person in Stamford, Connecticut, or online.
About PowerSecure International, Inc.
PowerSecure International, Inc. is a leading provider of utility and energy technologies to electric utilities and their industrial, institutional, and commercial customers. PowerSecure provides products and services in the areas of Interactive Distributed Generation ® (IDG®), energy efficiency and utility infrastructure. The company is a pioneer in developing IDG® power systems with sophisticated smart grid capabilities, including the ability to 1) forecast electricity demand and electronically deploy the systems to deliver more efficient, and environmentally friendly, power at peak power times, 2) provide utilities with dedicated electric power generation capacity to utilize for demand response purposes and 3) provide customers with the most dependable standby power in the industry. Its proprietary distributed generation system designs utilize a range of technologies to deliver power, including renewables. The company’s energy efficiency business develops energy efficient lighting technologies that improve the quality of light, including its proprietary EfficientLights® LED lighting products for grocery, drug and convenience stores, and its SecureLite area light and PowerLite street lights for utilities and municipalities. PowerSecure also provides electric utilities with transmission and distribution infrastructure maintenance and construction services, and engineering and regulatory consulting services. Additional information is available at the company's website.