Principal Industries Acquires GENLED Brands, Strengthening Leadership in Signage and Architectural Illumination

ROSEMONT, Ill.--(BUSINESS WIRE)--Principal Industries (“Principal”), a leading provider of light emitting diode (“LED”) components and engineered assemblies and a portfolio company of Wynnchurch Capital, L.P. (“Wynnchurch”), today announced the acquisition of GENLED Brands (“GENLED” or the “Company”).

Headquartered in East Rutherford, New Jersey, GENLED designs, engineers, and assembles premium LED lighting products, systems, and solutions for customers around the world. The Company is known for its innovative product portfolio and ability to deliver customized lighting solutions tailored to specific customer applications and requirements.

Todd Fiske, CEO of Principal, said, “GENLED is a highly complementary addition to the Principal platform. The Company has built a reputation for innovation, product quality, and customer service, and its differentiated product portfolio expands our capabilities across key lighting and illumination applications. We are excited to welcome Scott and the entire GENLED team to Principal and look forward to building on our shared commitment to delivering superior solutions for our customers.”

Scott Vontobel, CEO of GENLED, added, “Principal is the ideal partner for GENLED as we enter our next phase of growth. Both organizations share a customer-first culture, a focus on innovation, and a commitment to providing high-quality LED solutions. By joining forces with Principal, we will be better positioned to serve our customers, expand our product offerings, and capitalize on new opportunities in the market.”

Foley & Lardner LLP acted as legal advisor to Wynnchurch. Willkie Farr & Gallagher LLP acted as legal advisor to GENLED, and GulfStar Group acted as GENLED’s investment banking advisor.

About Principal:

Headquartered in San Angelo, Texas, Principal is a leading provider of LED components and engineered assemblies used in signage and brand imaging applications. Principal offers a broad and diverse range of products and related services for signage and architectural branding illumination, including LED modules, Stiks, linear & edge lighting, drivers and controls, power modules, and specialty assemblies. For more information, please visit: www.pindustries.com.

About GENLED:

Headquartered in East Rutherford, New Jersey, GENLED is a designer, manufacturer, and assembler of premium LED lighting products, systems, and solutions serving a diverse range of signage, architectural, and commercial lighting applications. For more information, please visit: www.genledbrands.com.

About Wynnchurch Capital:

Wynnchurch Capital, L.P., headquartered in the Chicago suburb of Rosemont, Illinois, with an affiliate in Canada, was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement.

Wynnchurch manages a number of private equity funds with $9.1 billion of assets under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs, and restructurings. Recently, Wynnchurch acquired MSHS Pacific Power Group, an independent maintenance, repair, and overhaul (“MRO”) specialist serving power generation, industrial, marine, and national security customers. Other recent investments include: Sterno, a leading provider of portable food-warming and tabletop solutions; NABRICO Marine Products, a leading manufacturer of hopper barges, tank barges, fiberglass covers, and marine components; Charter Industries, a leading provider of edgebanding and complementary products; and Astro Shapes, a leading manufacturer of custom aluminum extrusions. For more information, please visit: www.wynnchurch.com or follow us on LinkedIn.