Southern Lighting Gallery is Acquired by Saylite, a CORE Industrial Partners Portfolio Company
CHATTANOOGA, Tenn. (April 11, 2022) — FourBridges Capital Advisors, an investment banking firm that helps business owners sell their companies, refinance debt or access growth capital, announced today that Southern Lighting Gallery (“SLG”) has been sold to Saylite, a CORE Industrial Partners Portfolio Company. FourBridges structured and negotiated the deal on behalf of Southern Lighting Gallery.
Founded in Augusta, Georgia in 1999, SLG is a premium provider of indoor and outdoor residential lighting fixtures, ceiling fans and decorative accessories. In 2012, SLG acquired Charleston Lighting and Interiors. With expansive showrooms in Augusta, GA and Charleston, SC, SLG offers the largest selection of lighting fixtures in the Central Savannah River Area and the broader Charleston metropolitan area. In addition to its leading product offerings, the company is known for providing an unmatched level of customer service that includes custom design work and post-installation maintenance services.
SLG brings a reputable presence in key Southeast markets to support Saylite’s extensive lighting industry experience and aggressive vertical integration strategy that expands on its existing showrooms in Austin, Dallas and Houston, Texas. “In addition to being a great fit strategically, Saylite and CORE Industrial Partners complement each other very well culturally, which became evident during diligence,” said Ralph Montgomery, Managing Director at FourBridges.
“Over the last two decades, Mr. Smith has built a business providing industry leading lighting solutions for customers and home builders in the Central Savannah River Area,” added FourBridges Vice President Clay Stockett. “It was important to him that the next ownership group would continue providing exceptional service and lighting solutions to his customer base.”
“Having FourBridges in my corner gave me peace of mind throughout the entire sales process,” said SLG owner, Brent Smith. “Not only did they help me achieve all of my objectives, the deal exceeded my expectations and created a brighter future for the company and its employees.”
“SLG has delivered consistent quality and service to its customers in the Augusta and Charleston MSAs for decades,” said Frank Papa, Senior Partner of CORE and Chairman of Saylite. “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.”
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. For more information, visit www.coreipfund.com.
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, Saylite has additional facilities in Dallas, Austin, and Houston. 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.
FourBridges Capital represents business owners who are thinking about selling their company, making an acquisition, or refinancing. The partners run a proven process to identify quality buyers, achieve the best value, and close a deal fast. For more information, visit www.fourbridgescapital.com.