PowerSecure International, Inc. recently announced that it has launched an expansion of its LED lighting business through the acquisition of a majority interest in a leading LED lighting development company, Innovative Electronic Solutions Lighting, LLC. Specifically, PowerSecure acquired a two-thirds controlling interest in exchange for cash proceeds of $4.4 million, while Innovative Electronic Solutions’ management team owns the remaining third. The transaction was completed back in April.
Since 2002, the Innovative Electronic Solutions team has engineered dozens of lighting products for LED lighting companies in the marketplace. Among these products is an LED street light for utilities, with additional near-term opportunities to provide the street light to international customers. The company’s operations are located in the Raleigh, NC area.
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