Thu, 14/06/2018 - 08:25
Inverness Graham, a private investment firm based in suburban Philadelphia, has acquired EiKO Global. Headquartered in Shawnee, Kansas. EiKO distributes its branded LED lamps and fixtures globally.
The Company has more than 1,700 US customers serving industrial and commercial end-markets.
The EiKO fulfilment platform supports its distributor customers with same-day shipments and two-day turnarounds to meet customers' needs in North America. EiKO is the initial acquisition within a broader LED lighting platform-build initiative at Inverness Graham.
"The EiKO opportunity arose from a proactive search in the lighting market," says Michael Morrissey, Managing Principal of Inverness Graham. "The Company is well positioned to continue to benefit from the conversion to LED solutions from traditional fluorescent lighting. EiKO's broad product portfolio, coupled with its ability to quick-ship products sets the Company apart. We intend to leverage EiKO's unique position within the lighting marketplace to drive both acquisitive and organic growth initiatives.”
"Over the past several years, EiKO has delivered revenue and EBITDA growth that has outpaced the market," says Rick Laird, CEO of EiKO. "We believe the partnership with Inverness Graham and their strong operational focus will support our fulfilment optimisation and expand our new product offerings and customer base. We are proud of what we've accomplished so far but look forward to what the future holds with Inverness Graham."
Terms of the acquisition have not been disclosed.
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