ATLANTA--(BUSINESS WIRE)--Acuity Brands, Inc., (NYSE: AYI; “Company”) a market leader in innovative energy-efficient lighting and control solutions, today announced it has acquired for cash Sacramento, CA-based Sunoptics, a premier provider of high-performance, prismatic daylighting products.
Since its founding in 1978, Sunoptics has been dedicated to creating the finest daylighting environments. Well over one billion square feet of daylighted space worldwide utilize Sunoptics’ high-performance, prismatic skylights. Using a U.S. EPA Greenhouse Gas Equivalencies Calculator and industry averages for connected light load, cost of electricity and annual hours of daylighting opportunity, Sunoptics’ customer base is saving $336 million annually in electrical energy costs. These customers have reduced their electrical energy load equivalent to the generation capacity of a 1,000 megawatt power plant and have spared the atmosphere from over 20,000 Metric Tons of CO2. Leading retailers such as Best Buy, The Home Depot, Kroger and Wal-Mart have installed Sunoptics’ products to help them increase energy efficiency, boost productivity and sales, and fulfill their strategic intent to implement green solutions throughout their businesses.
“Acuity Brands is strategically focused and well-positioned to bring the most diverse set of sustainable and energy-efficient solutions to our customers, whether it be by traditional, LED or OLED electric light sources, by harvesting daylight, or by the use of intelligent lighting control systems,” said Vernon J. Nagel, Chairman, President and Chief Executive Officer of the Company. “Nothing is more sustainable or energy-efficient than using daylight to light a space. The acquisition of Sunoptics allows us to manage the visual environment using natural daylight. Their portfolio strengthens our suite of sustainable and energy-efficient solutions for retail, industrial, warehouse, education, government and office applications. Further, there are opportunities to leverage our technology expertise and broad market access, including integration with other energy-efficient technologies such as our LED-based luminaires and intelligent lighting control solutions,” continued Nagel.
Sunoptics’ high-performance prismatic skylights optimize lighting performance through the use of a patented dome construction designed to capture more light at low sun angles. The skylights have no moving parts and are designed to provide the maximum amount of light transmittance while maintaining 100% diffusion and eliminating undesirable hot spots, glare and UV damage in the daylighted space.
“The entire Sunoptics team is pleased to join the Acuity Brands family,” said Jim Blomberg, President of Sunoptics. “For a number of years, we have been integrating Acuity Brands’ LC&D™ lighting controls products, enhancing the value of our prismatic skylighting solutions. This combination is a natural next step in our relationship and an exciting opportunity to leverage Acuity Brands’ strong lighting industry access to market, advanced technologies, and opportunities to integrate with LED lighting and intelligent controls. This will also support the continuing development of new and innovative lighting solutions for our customers,” added Blomberg.
Sunoptics will continue operations in its existing facility, focusing on key customers and competencies. The acquisition is not expected to materially impact the Company’s fiscal 2011 consolidated financial performance. Terms of the acquisition were not disclosed.
About Acuity Brands
Acuity Brands, Inc. is a North American market leader and one of the world’s leading providers of luminaires, lighting control systems and related products and services with fiscal year 2010 net sales of over $1.6 billion. The Company’s lighting and system control product lines include Lithonia Lighting®, Holophane®, Peerless®, Mark Architectural Lighting™, Hydrel®, American Electric Lighting®, Gotham®, Carandini®, RELOC®, Antique Street Lamps™, Tersen®, Winona Lighting®, Synergy® Lighting Controls, Sensor Switch®, Lighting Control & Design™, and ROAM®. Headquartered in Atlanta, Georgia, Acuity Brands employs approximately 6,000 associates and has operations throughout North America, Europe and Asia.
This release contains forward-looking statements, within the meaning of the federal securities laws. Statements that may be considered forward-looking included statements incorporating terms such as “will,” “expects,” “believes,” “intends,” “anticipates,” “may,” and similar terms that relate to future events, performance, or results of the Company. Specific forward-looking statements made in this press release include the opportunities to further leverage the Company’s capabilities and broad market access across Sunoptics’ product portfolio. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the expectations or projections expressed in the forward-looking statements. These risks and uncertainties include, but are not limited to, customer and supplier relationships and prices; competition; market demand; and economic, political, governmental, and technological factors. Further, forward-looking statements speak only as of the date they are made, and management undertakes no obligation to update publicly any of them in light of new information or future events.
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