Acuity Brands, Inc. ( AYI Quick Quote AYI - Free Report) recently announced the acquisition of ams OSRAM's digital systems (“DS”) business in North America. DS is a developer and manufacturer of lighting components including LED drivers, LED light engines and electronic ballasts. Acuity Brands anticipates the transaction to be sealed during summer 2021. However, financial terms of the deal have been kept under wraps. The acquisition of one of the largest LED lighting companies in North America is expected to help Acuity Brands witness strategic growth in its business. Acuity Brands will be in a position to expand its business potential with the addition of around 1,100 new associates in the United States, Canada and Mexico, as well as with new portfolio inclusion of eldoLED driver and IOTA emergency driver brands. With respect to this, president of Acuity Brands' Lighting and Controls business, Trevor Palmer, said, “We look forward to serving ams OSRAM’s North American DS business customers and providing our industry with the most advanced portfolio of integrated digitally connected luminaire technology and LED drivers.” Well-Diversified Portfolio Driving Growth
Acuity Brands provides lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and as well as Europe and Asia.
The company has a wide variety of brands that include Lithonia Lighting, Holophane, Peerless, Gotham, Mark Architectural Lighting, Winona Lighting, Juno, Indy, Aculux, Healthcare Lighting, Hydrel, American Electric Lighting, Antique Street Lamps, Sunoptics, eldoLED, Distech Controls, nLight, ROAM, Sensor Switch, Power Sentry, IOTA and Atrius. Acuity Brands’ diversified portfolio of innovative lighting control solutions and energy-efficient luminaries bode well for the company. Apart from an attractive business model, the company is working on smart business strategies to achieve consistent growth in sales and earnings. In response to the rapidly changing market trends, Acuity Brands is continually expanding its portfolio of innovative lighting control solutions and energy-efficient luminaries. Shares of Acuity Brands’ have surged 56% so far this year compared with the Zacks Building Products - Lighting industry’s 45% rally. Image Source: Zacks Investment Research Zacks Rank
Acuity Brands — which shares space with
LSI Industries Inc. ( LYTS Quick Quote LYTS - Free Report) , Orion Energy Systems, Inc. ( OESX Quick Quote OESX - Free Report) and Energy Focus, Inc. ( EFOI Quick Quote EFOI - Free Report) in the Zacks Building Products – Lighting industry — currently carries a Zacks Rank #3 (Hold). You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Breakout Biotech Stocks with Triple-Digit Profit Potential
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