03/22/22

CORE Industrial Partners Portfolio Company Saylite Acquires Southern Lighting Gallery

CORE Industrial Partners (“CORE”), a Chicago-based private equity firm, announced today the acquisition of Southern Lighting Gallery and Charleston Lighting and Interiors (collectively “SLG” or the “Company”), a premium provider of indoor and outdoor residential lighting fixtures, by CORE portfolio company Saylite.

Specializing as a one-stop shop for all residential lighting, ceiling fans and decorative accessory needs, SLG provides an unmatched level of customer service alongside an industry-leading product offering.  SLG offers end-to-end customer service, including custom design work up paired with post-installation maintenance services.

SLG operates showrooms in Augusta, GA and Charleston, SC, bringing the largest selection of lighting fixtures to the Central Savannah River Area and the broader Charleston MSA, which includes 14 counties in Georgia and seven counties in South Carolina.  Saylite’s acquisition of SLG brings two award-winning showrooms, located in high-growth MSAs, into Saylite’s existing showroom set located in Austin, Dallas, and Houston, TX.

Frank Papa, Senior Partner of CORE and Chairman of Saylite, said, “SLG has delivered consistent quality and service to its customers in the Augusta and Charleston MSAs for decades.  We look forward to partnering with the Southern Lighting Gallery team and sharing best practices across Saylite’s showrooms.  We will seek to continue to provide industry-leading products and service to our customers.”

Brent Smith, President of SLG, said, “It is with significant gratitude that I thank my team and customers for their dedication and support over many years.  I look forward to collaborating further with CORE and Saylite as we look to improve upon SLG’s exceptional value and service to customers in the Augusta and Charleston area.”

Norton Rose Fulbright provided legal representation to Saylite and CORE in the transaction.

ABOUT CORE INDUSTRIAL PARTNERS:

CORE Industrial Partners is a Chicago-based private equity firm with $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology and services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a proven track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies. For more information, visit www.coreipfund.com.

ABOUT SAYLITE:

Saylite is a full-service provider of LED and non-LED configured lighting products and solutions serving commercial, industrial, and premium residential markets. Based in Carrollton, Texas, with additional facilities in Dallas, Austin, and Houston, the company is developing the latest solutions for both practical and design-centric applications employing an engineering staff that bridges the worlds of lighting, construction, design and technology. Saylite’s brands (Fleco Industries, Texas Fluorescents Reinvented, Mobern, Lights Fantastic, Lights Fantastic Pro, L.I.T.E., and LFP Lighting) and products can be found illuminating a diverse building set including large retailers, commercial office space, industrial warehouses and a variety of premium residential structures.  For more information, visit www.saylite.com.

ABOUT SOUTHERN LIGHTING GALLERY:

Founded in 1999, Southern Lighting Gallery maintains the largest selection of residential lighting in the Central Savannah River Area. SLG’s award-winning showrooms provide consumers, contractors, and builders with industry leading service and products.  For more information, visit www.slgonline.com and www.charlestonlightingandinteriors.com.

Transaction

John May

Managing Partner

312-566-4882

Matt Puglisi

Partner

312-566-4885

Media

Jeremy Milner

BackBay Communications

(401) 862-9422

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