Private equity firm Angeles Equity Partners has acquired, through an affiliated entity, a controlling interest in ERP Power, an LED driver business based in Moorpark, CA. Financial terms of the transaction have not been disclosed.
Angeles Equity Partners is partnering with ERP management to realise the company’s full growth potential and drive consolidation in the sector. The deal leverages the Angeles Equity Partners team’s previous power electronics sector investment experience and operational transformation expertise.
“ERP is recognised by the market as a leading provider of LED drivers that are enabling the evolution from analog to digital in the lighting industry. We see this as a compelling opportunity for our firm to partner with a great management team and position ERP to outperform the market, deliver superior financial results and drive industry consolidation,” says Timothy Meyer, co-founder and managing partner of Angeles Equity Partners.
“We envision a future where LED lighting will be the backbone of the Internet of Things (IoT), enabling a completely new connected world where light becomes data and delivers engaging interactive experiences for people everywhere,” says Michael Archer, CEO of ERP Power. “The Angeles Equity Partners team has significant experience creating value in businesses in which they invest. We believe – based on AEP’s power electronics industry experience, operational capabilities, and M&A expertise – they are the right partner to help us achieve our long term potential.”
