Platinum Equity buys into Montreal lighting maker LMPG in second Quebec deal
What's the deal? Platinum EquityDealroom has a profile for this one. Try Dealroom → has made a significant investment in LMPG Inc., a Montreal-based manufacturer of specification-grade lighting solutions for commercial and infrastructure projects across North America. Financial terms were not disclosed. The Los Angeles firm is acquiring outstanding shares from existing institutional investors.
Who stays: Founder François-Xavier Souvay, W InvestmentsDealroom has a profile for this one. Try Dealroom →, and President and CEO Peter Timotheatos, along with the management team, are rolling their equity and will remain significant investors. Timotheatos will continue to lead the company after the transition.
What LMPG does: Founded by Souvay in 2006, LMPG designs and manufactures made-to-order lighting luminaires for urban infrastructure, healthcare, education, and commercial building projects. It operates seven brands and sells through a network of agencies serving architects, engineers, and designers.
Why now? Platinum sees demand rising from commercial construction and infrastructure investment. "We believe the company is well-positioned to benefit from long-term demand trends in commercial construction and infrastructure investment," said co-president Jacob Kotzubei.
What's the endgame? Platinum wants to grow LMPG both organically and through acquisitions in what it calls a large, fragmented market. "We see substantial potential to support continued growth through operational initiatives, accelerated new product development and M&A," said managing director Dan Krasner.
The signal: The deal marks Platinum's second transaction in Quebec in 24 months, underscoring its push into Canada. Co-president Louis Samson, who grew up in Quebec City, said the firm aims to "partner effectively with Quebec and Canadian companies to unlock value and support their long-term growth plans."
Read more: PR Newswire
Image credit: Nilo Velez
