Acquisition will expand company's range of lighting products
WAUKEGAN, Ill: Coleman Cable Inc, a manufacturer of electrical and electronic wire and cable products, announced today that it has acquired the assets of specialty lighting products designer and distributor The Designers Edge Inc. The acquisition was worth approximately US$10.9 million.
Coleman said the acquisition expands its product portfolio across a wide range of lighting product categories, including industrial, work and utility, as well as products for security and landscape applications. These products will complement Coleman’s existing portfolio of products, which includes portable lighting products, lighting-related timers and controls, the company said.
“The Designers Edge represents a great opportunity for us to immediately and meaningfully expand our presence in a number of key product categories,” said Gary Yetman, Coleman’s president and CEO. “The Designers Edge has long been recognized for its strong assortment and product innovation, which are attributes we believe we can leverage and capitalize on when The Designers Edge portfolio and ours are combined.”
The acquisition of the assets of The Designers Edge, whose annual sales were in excess of $20 million for 2010, was all-cash and closed on April 1, 2011.