September 3, 2007—Cooper Industries, Ltd. announced that it has acquired Illinois-based io Lighting, a dedicated light-emitting diode (“LED”) lighting fixture company, and Vermont-based Powerline Communications, Inc. (“PCI”), a manufacturer of digital lighting control panels. Expected sales for the two companies in 2007 are approximately $17 million and the combined purchase price is $22 million.
io Lighting designs and manufactures technically advanced, environmentally friendly LED luminaries for the lighting design and architecture industries. The company has LED product lines in wall sconces and signage, linear floodlights, cove lighting and handrails and earned numerous product design awards since its founding in 2002, including “Best of Show” at Lightfair 2004. “io Lighting has built very strong capabilities in developing LED applications for architectural lighting and we are very excited to be part of Cooper Industries, where we will be able to accelerate our new product development and reach a broader customer-base,” said Ann Reo, President of io Lighting.
PCI is a premier provider of Energy Management Systems products such as networked lighting controls relay panels. The company has completed over 20,000 installations at airports, office buildings, educational campuses, and other commercial and industrial locations around the world.
Cooper Industries has now closed six acquisitions year-to-date and maintains a highly-disciplined acquisition strategy, building out strategic platforms that strengthen the core businesses with complementary or adjacent products, add more end-user specification and technology into the portfolio, and enhance the global footprint. For more information, see the company’s Web site.
