ATLANTA--(BUSINESS WIRE)-- Acuity Brands, Inc., (NYSE:AYI -News) a market leader in innovative energy-efficient lighting and control solutions, today announced it has acquired for cash Sacramento, CA-based Sunoptics, a premier provider of high-performance, prismatic daylighting products.
Since its founding in 1978, Sunoptics has been dedicated to creating the finest daylighting environments. Well over one billion square feet of daylighted space worldwide utilize Sunoptics’ high-performance, prismatic skylights. Using a U.S. EPA Greenhouse Gas Equivalencies Calculator and industry averages for connected light load, cost of electricity and annual hours of daylighting opportunity, Sunoptics’ customer base is saving $336 million annually in electrical energy costs. These customers have reduced their electrical energy load equivalent to the generation capacity of a 1,000 megawatt power plant and have spared the atmosphere from over 20,000 Metric Tons of CO2. Leading retailers such as Best Buy, The Home Depot, Kroger and Wal-Mart have installed Sunoptics’ products to help them increase energy efficiency, boost productivity and sales, and fulfill their strategic intent to implement green solutions throughout their businesses.
“Acuity Brands is strategically focused and well-positioned to bring the most diverse set of sustainable and energy-efficient solutions to our customers, whether it be by traditional, LED or OLED electric light sources, by harvesting daylight, or by the use of intelligent lighting control systems,” said Vernon J. Nagel, Chairman, President and Chief Executive Officer of the Company. “Nothing is more sustainable or energy-efficient than using daylight to light a space. The acquisition of Sunoptics allows us to manage the visual environment using natural daylight. Their portfolio strengthens our suite of sustainable and energy-efficient solutions for retail, industrial, warehouse, education, government and office applications. Further, there are opportunities to leverage our technology expertise and broad market access, including integration with other energy-efficient technologies such as our LED-based luminaires and intelligent lighting control solutions,” continued Nagel.
Sunoptics’ high-performance prismatic skylights optimize lighting performance through the use of a patented dome construction designed to capture more light at low sun angles. The skylights have no moving parts and are designed to provide the maximum amount of light transmittance while maintaining 100% diffusion and eliminating undesirable hot spots, glare and UV damage in the daylighted space.
“The entire Sunoptics team is pleased to join the Acuity Brands family,” said Jim Blomberg, President of Sunoptics. “For a number of years, we have been integrating Acuity Brands’ LC&D™ lighting controls products, enhancing the value of our prismatic skylighting solutions. This combination is a natural next step in our relationship and an exciting opportunity to leverage Acuity Brands’ strong lighting industry access to market, advanced technologies, and opportunities to integrate with LED lighting and intelligent controls. This will also support the continuing development of new and innovative lighting solutions for our customers,” added Blomberg.
Sunoptics will continue operations in its existing facility, focusing on key customers and competencies. The acquisition is not expected to materially impact the Company’s fiscal 2011 consolidated financial performance. Terms of the acquisition were not disclosed.