ShoreView Announces Sale of American De Rosa Lamparts, LLC
ShoreView is pleased to announce the successful sale of Luminance to Resilience Capital Partners. ShoreView partnered with Luminance through a leveraged recapitalization in May 2007.
Prior to ShoreView’s investment, Luminance’s sole shareholder was seeking to monetize the value he had created, to plan for eventual leadership transition, and to partner with a strong financial sponsor. ShoreView structured a transaction that:
- Provided liquidity to the sole shareholder
- Allowed the sole shareholder to retain an ownership position in the Company
- Created an ownership incentive plan for key managers
ShoreView then worked with Luminance to:
- Develop a strong, well rounded management team
- Complete two add-on acquisitions
- Improve the Company’s China supply chain function
Luminance is a leading supplier and designer of lighting parts, hardware, fixtures, ceiling fans, and plumbing parts. Luminance carries a broad range of products and sells to a wide range of customers, including lighting and electrical distributors, catalog houses, lighting showrooms, and independent lighting manufacturers. Hallmark Lighting, LLC (“Hallmark”), a wholly-owned subsidiary of Luminance, is a lighting products manufacturer that specializes in guestroom lighting for the upscale and luxury segments of the hospitality industry. Hallmark’s products are built to the design specifications of its customers and it sells its products as part of the renovation and new construction of hotels.
About ShoreView Industries
ShoreView Industries, based in Minneapolis, MN, manages $900 million in private equity funds. ShoreView invests in established, middle-market companies with operations in North America, across a wide range of industries. ShoreView structures a variety of acquisition, recapitalization and build-up transactions, typically in businesses with revenues ranging between $20 million and $300 million.