Delta Electronics, a Taipei-based electronics company that specializes in power and thermal management solutions, as per a recent press release statement on Monday, Mar. 11th 2019, signed a definitive agreement with Amerlux, LLC, an Oakland, New Jersey-based LED architectural lighting solutions provider. As per the agreement Delta Electronics (Netherlands) BV, Delta’s Dutch subsidiary, will acquire 100% of Amerlux’s interests for $90 million. The said transaction is expected to close in Q2 2019.
Furthermore, the above-mentioned agreement includes a sub-clause, an earn-out mechanism in which Delta will be attributed to paying an additional pre-established amount for the transaction, should Amerlux’s 2019 EBITDA (Earnings before interest, tax, depreciation, and amortization) and revenue reach a predetermined target.
Delta is advancing on its long-term growth portfolio of building automation. The proposed definitive acquisition agreement of Amerlux is expected to benefit customers, who have a broader portfolio of Delta IoT platform based smart green solutions for the development of sustainable buildings and cities, which includes energy management, building automation, commercial and industrial LED lighting, surveillance, and the indoor environmental quality systems.
According to Ping Cheng, CEO, Delta, the company being a world-class corporate citizen dedicated to enabling energy conservation and lower humans’ carbon footprint, continues to broaden its solutions portfolio to increase energy efficiency, comfort and improve the security of today’s smart buildings and cities.
Concluding Cheng said that Amerlux’s existing facilities in Oakland, New Jersey will continue to operate as it is, and the current management at Amerlux will remain intact.