Skokie, Ill.-based Generation Brands has entered into a definitive agreement with AEA Investors LP whereby AEA will acquire the company from its current owners Quad-C Management, Inc. The purchase includes all of the brands: Feiss, LBL Lighting, Monte Carlo Fans, Sea Gull Lighting, and Tech Lighting brands.
“We’re extremely excited about this transaction,” says Josh Weiss, CEO of Generation Brands. “Since 2010, [we have] experienced annual, double-digit sales and profitability growth, and Quad-C has been an incredible partner sharing our unrelenting optimism towards the lighting industry. We’re grateful to have found another fantastic partner in AEA, who will enable us to continue to make significant investments in product innovation and growth while taking full advantage of the many changes occurring in our market.”
Furthermore, Generation Brands is close to completion on a 120,000-sq.-ft. expansion to its Skokie, Illinois headquarters – which will house additional office and production space including 14,000 square feet dedicated to a state-of-the art training facility and product showroom. The additional office space is estimated to be completed shortly with the showroom opening in late summer or early fall.
According to Generation Brands executives, everything will remain “business as usual,” with the same goals, values, employees, reps, supply partners, and products/services.