LOS ANGELES – June 18, 2019 – ERP Power LLC (“ERP”), a portfolio company of Angeles Equity Partners, LLC (“Angeles”), and a leading provider of small, smart and connected LED drivers for the lighting industry, today announced the acquisition of Lumenetix Inc. (“Lumenetix”). Lumenetix is the creator of the araya5 tunable color light engines and digital controls designed to deliver flawless interactive lighting experiences. The combination of patented tunable light from Lumenetix and precision power from ERP provides lighting designers with the industry’s first independent driver, light engine and digital controls embedded system. The innovative form factor is designed to reduce original equipment manufacturer complexity and accelerate LED lighting fixture time to market.
“We believe the combined company is uniquely positioned to deliver a differentiated and compelling value proposition to the lighting industry,” said Timothy Meyer and Jordan Katz, Co-founders and Managing Partners of Angeles Equity Partners. “ERP and Lumenetix are well positioned to capitalize on the IoT digital controls and full spectrum lighting industry trends.”
The patented technologies from ERP and Lumenetix simplify the deployment and control of LED lighting installations to deliver accuracy, control, and consistency. The integration of power conversion and digital controls matched to the form and function of the light engine enables the vision of tunable light and power. The combined company delivers the broadest array of controls integration with support for Acuity Fresco, Avi-On, DALI, DMX, LeGrand WattStopper, Lutron EcoSystem, and Xicato to provision a lighting project with dozens to thousands of fixtures.
“Our integrated system enables lighting fixture designers to preserve their brand, facilitate luminaire design, and accelerate time to market for specification grade fixtures with best-in-class quality of light, power density, and digital controls flexibility,” said Michael Archer, Founder and CTO of ERP.
The Lumenetix araya5 Tunable Color feature set, powered by ERP programmable LED drivers, replicates full spectrum sunlight; provides access to a wide gamut of pastels and saturated colors; and delivers eflicker-free dimming to 0.1% for architectural, commercial, retail, hospitality and entertainment applications.
“Two technology leaders focused on enabling broad adoption of tunable light and power across multiple markets is compelling,” said Jim Kingman, Founder and former CEO of Lumenetix, and Executive Vice President of ERP. “I am looking forward to playing a key role in the combined business.”
In conjunction with the transaction, two of the lighting industry’s most influential individuals – Jed Dorsheimer and Doug Herst are joining the ERP Board of Directors. Jed Dorsheimer is currently Managing Director and Senior Analyst at Canaccord Genuity. Previously Jed served as Vice President, Acuity Brands, a Fortune 500 company where he served as VP, Commercial Office and VP, Corporate Development. His twenty years of industry leading experience earned him recognition by Lux Magazine in 2014 as the 5th most influential person in the lighting industry worldwide. Doug Herst is the Founder of Lumenetix and venerable lighting industry maverick. With over twenty utility patents and more than fifty design patents Doug pioneered indirect lighting over two decades as CEO of Peerless Lighting, now a division of Acuity Brands.
Irell & Manella LLP provided legal counsel to ERP and Angeles. O’Melveny & Myers LLP served as the legal advisor to Lumenetix in the transaction.
About Lumenetix
Founded in 2008, Lumenetix is the technology leader in advanced light sources for commercial, residential and professional film/studio lighting applications. Lumenetix utilizes proprietary and patented manufacturing processes and controls to replicate and control the spectral quality of natural light while enabling access to millions of colors, from pastels to saturates. Lumenetix products are sold under the araya® and blanco® registered trademarks. Learn more online at www.lumenetix.com
About ERP Power
Established in 2004, ERP designs and manufactures small, smart and connected LED driver power electronics for architectural, commercial and industrial lighting applications. ERP products deliver an industry-leading combination of compact size, extensive dimmer compatibility, wireless controls, programmable output, and high efficiency at competitive cost. Headquartered in Moorpark, CA, ERP owns and operates its own ISO 9001 certified manufacturing facility to ensure quality of design, sourcing, production and testing. Learn more online at www.erp-power.com or by emailing [email protected].
About Angeles Equity Partners, LLC
Angeles Equity Partners, LLC is a private equity firm that invests in companies across a wide range of sectors and specifically targets businesses which it believes can directly benefit from the firm’s strategic, operational and M&A capabilities. The Angeles skill set drives the firm’s investment philosophy and, in its view, can help businesses reach their full potential. Learn more online at www.angelesequity.com.
