Moorpark’s ERP Power acquires Lumenetix
Moorpark-based LED lighting company ERP Power acquired Scotts Valley-based lighting electronics producer Lumenetix for an undisclosed amount June 18.
Lumenetix products tune lighting independently, powering interactive displays and quickening the deployment of LED fixtures, ERP said in a news release about the deal. ERP is a portfolio company of Angeles Equity Partners, which invested in the lighting firm in 2016.
Together, the companies are positioned to capitalize on major trends in the industry like Internet of Things digital controls and demand for full-spectrum lighting, Angeles Equity Partners co-founders Timothy Meyer and Jordan Katz said in the announcement.
The two technologies integrate with several support and management software systems and have the capacity to tune arrangements with thousands of fixtures for commercial, architectural, retail, hospitality and entertainment markets. Lumenetix’s hardware can produce pastel and saturated colors and imitate sunlight.
“Two technology leaders focused on enabling broad adoption of tunable light and power across multiple markets is compelling,” said founder and CEO Jim Kingman, who will serve as executive vice president of ERP.
Canaccord Genuity analyst Jed Dorsheimer and Lumenetix founder Doug Herst will also join the ERP board of directors. Irell & Manella LLP provided legal counsel to ERP and Angeles, and O’Melveny & Myers LLP served as the legal adviser to Lumenetix in the transaction.
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