Masco Corporation has sold Kichler Lighting to an affiliate of Kingswood Capital Management
Kichler Lighting
Founded in 1938 and headquartered in Solon, Ohio, Kichler Lighting is a recognized leader in decorative, high-quality indoor, outdoor and landscape lighting and ceiling fan solutions serving diversified channel partners in the North American residential lighting market. The company employs a broad omnichannel coverage model, providing solutions for consumers and professionals in the showroom, landscape, electrical, e-commerce and home center trade channels. For more information, please visit www.kichler.com.
The Deal
After Kichler underwent several transformations under Masco Corporation’s ownership, Masco decided to engage Lincoln International to run a sale process to find a potential buyer for the business with a more concerted focus on lighting. Kingswood Capital Management will merge Kichler with its portfolio company, Progress Lighting to create one of North America’s leading residential lighting platforms featuring complementary, industry-recognized brands. The combined company will benefit from expanded distribution and service capabilities and a robust product catalog that is well positioned to serve customers across the homebuilder, trade, showroom, retail and e-commerce sales channels. The company’s go-to-market strategy will feature both the Progress and Kichler brands.
Our Perspective
Jeff Corum, Lincoln International Managing Director who led the transaction, commented, “It was a privilege to work with Masco and Kichler’s management team on this important transaction in the residential lighting industry. We are excited about the potential combination and look forward to following their continued success in the lighting industry.”
Masco Corporation (NYSE: MAS)
Headquartered in Livonia, Michigan, Masco is a global leader in the design, manufacture and distribution of branded home improvement and building products. Their portfolio of industry-leading brands includes Behr ® paint; Delta ® and Hansgrohe ® faucets, bath and shower fixtures; Liberty ® branded decorative and functional hardware and HotSpring ® spas. Masco leverages their powerful brands across product categories, sales channels and geographies to create value for their customers and shareholders. For more information, please visit www.masco.com.
Progress Lighting
Progress is a leading source for residential and light commercial decorative lighting solutions with thousands of fixture designs to meet the needs of any project. With over a century of lighting technology, leadership and engineering, Progress offers the highest-quality lighting products and solutions that deliver aesthetic appeal, stellar performance, easy installation and value to the residential new construction and renovation and remodel end markets. For more information, please visit www.progresslighting.com.
Kingswood Capital Management
Kingswood, based in Los Angeles, is a private investment firm partnering with middle-market companies in transition. It offers capital, industry relationships and a broad network of operating resources to enhance value and support businesses at development inflection points. Known for embracing complexity, Kingswood is skilled in complex transactions, providing tailored solutions for balanced stakeholder objectives. The cohesive, entrepreneurial team has a strong history of creating “win-win” partnerships. For more information, please visit www.kingswood-capital.com.
Lincoln’s exceptional support was instrumental in bringing this partnership with Kingswood and Progress to fruition, and we are excited about the potential of the combination.
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