Cooper Industries, Houston, has acquired Illinois-based Io Lighting, a dedicated light-emitting diode (LED) lighting fixture company, and Vermont-based Powerline Communications Inc. (PCI), a manufacturer of digital lighting control panels. The combined purchase price is $22 million.
“These acquisitions signal Cooper's ongoing commitments to build upon our existing portfolio of energy-efficient product lines and to add additional technology into the portfolio,” said Cooper Industries Chairman and Chief Executive Officer Kirk S. Hachigian. “Io Lighting is a market leader in the United States for architectural LED-based lighting fixtures and this acquisition significantly enhances Cooper's position in the rapidly expanding LED market. The acquisition of PCI complements our existing lighting controls offerings, as well as our recent acquisitions of Polaron plc and Novitas.
“With this acquisition, Cooper now brings to market a comprehensive suite of lighting control solutions from architectural dimming to energy management systems including relays and occupancy sensors.”
Io Lighting designs and manufactures technically advanced, environmentally friendly LED luminaries for the lighting design and architecture industries. PCI provides Cooper Energy Management Systems products such as networked lighting controls and relay panels.