Atar Capital Acquires Universal Lighting and Douglas Lighting Controls from Panasonic

LDS ULT Douglas 400

April 5, 2021

Atar Capital, a Los Angeles-based global private investment firm, announced today it has completed the acquisition of Universal Lighting Technologies and Douglas Lighting Controls from parent company, Panasonic Corporation. 

Universal Lighting Technologies manufactures and markets innovative LED lighting solutions for the commercial market with solutions that range from LED upgrades and retrofits to connected lighting solutions and IoT digital services. Douglas Lighting Controls develops advanced control systems and end-to-end energy-efficient digital lighting control solutions for commercial buildings, campuses and sports complexes. Financial terms of the agreement were not disclosed.

Through the change of ownership, the businesses will be renamed Universal Douglas Lighting Americas, Inc. and will operate as one company to address the needs of the market for a broader and more integrated suite of products and solutions.

This is Atar Capital’s seventh platform acquisition in just over four years. Commenting on this latest acquisition, Cyrus Nikou, founder and managing partner of Atar Capital, said, “Commercial lighting is an industry that is rapidly evolving with exciting new technology that is transforming the future of lighting and how we view it and use it. The acquisition of these two highly respected companies offers a huge opportunity for us to support greater innovation and growth in this industry. We are excited to complete this transaction and look forward to continuing to build upon the success of both companies.”

Robert Lezec, senior managing director at Atar, added, “The commercial lighting industry is in the midst of a significant transformation as cost-efficient LED light sources are now being supplemented by increasingly sophisticated controls, sensors and networking functionalities. Smart IoT lighting not only helps to drive incremental cost savings, but it also provides a platform for many valuable features within commercial spaces, including data collection and tracking, among others. We see numerous opportunities for these companies to capitalize on this industry-wide trend and we are excited once again to be at the heart of where technology meets sustainability.”

Through this acquisition, Atar confirms the position of Ty Anderson as chief executive officer of both companies. “With this acquisition we have the opportunity to significantly enhance our ability to continue to create an exciting future for the field of commercial lighting. Our relationship with Atar Capital will give us the support needed to drive further innovation in the development of lighting solutions that meet the evolving needs of our customers,” said Anderson.

Nikou led the Atar investment team that also included Senior Managing Director Lezec, Managing Directors Vijay Mony and Stanley Huang, Director T.J. McCaffrey and Senior Associate Roman Zelinsky. Dykema provided legal counsel to Atar Capital. FGI Finance provided financing and GCA Advisors was the sell-side investment bank.

Source

Related Articles


Latest Articles

  • Global Leadership & Local Support: GoodWe’s Commitment to Innovation and Quality

    Global Leadership & Local Support: GoodWe’s Commitment to Innovation and Quality

    June 19, 2024 GoodWe is a global PV inverter manufacturer and smart energy solution provider with nearly 5,000 employees worldwide, which has resulted in a well-established track record of over 71 GW of installations in over 100 countries and regions as of the end of 2023. A recently announced partnership with Guillevin marks their first… Read More…

  • TSBC Directive: Advertising Requirements for Licensed Contractors

    TSBC Directive: Advertising Requirements for Licensed Contractors

    June 18, 2024 This directive, published May 2, 2024, is being issued by a provincial safety manager pursuant to section 30 of the Safety Standards Act. On September 6, 2022, changes to the Safety Standards General Regulation came into effect that require licensed contractors to publish their company name and Technical Safety BC licence number… Read More…

  • TSBC Announces Adoption of BC Electrical Code, 2024 Edition

    TSBC Announces Adoption of BC Electrical Code, 2024 Edition

    June 18, 2024 Effective March 4, 2025 the Canadian Electrical Code, Part I, 26th Edition, Safety Standard for Electrical Installations, Canadian Standards Association Standard C22.1-24 is adopted as the BC Electrical Code. All electrical work subject to the BC Electrical Code must comply with the updated edition effective March 4, 2025. All code-related information bulletins… Read More…

  • Investment in Single-Family Homes Continues to Rise for April

    Investment in Single-Family Homes Continues to Rise for April

    June 14, 2024 Month over month, investment in building construction increased 4.5% to $20.4 billion in March. The residential sector was up 5.4% to $14.3 billion, while investment in the non-residential sector increased 2.3% to $6.1 billion. On a constant dollar basis (2017=100), investment in building construction increased 4.1% to $12.5 billion in March. Investment in single-family homes continues to rise Investment in… Read More…


Changing Scene

  • Local Governments Receive Grants to Speed up Delivery of Homes in B.C.

    Local Governments Receive Grants to Speed up Delivery of Homes in B.C.

    June 21, 2024 Thirty-eight local B.C. governments will soon receive a grant to create more efficient development approvals processes.  “We’re leaving no stone unturned in our work to deliver more homes for people, faster,” said Ravi Kahlon, Minister of Housing. “The Local Government Development Approvals Program was created so that local governments can improve the internal… Read More…

  • Construction of New Affordable Housing Units in Saskatoon

    Construction of New Affordable Housing Units in Saskatoon

    June 21, 2024 Individuals in low-income situations will soon have access to new affordable housing units in Saskatoon thanks to a joint investment from the governments of Canada and Saskatchewan. The Saskatchewan provincial government has announced the construction of four new affordable housing units in Saskatoon’s Riversdale neighbourhood. The new, one-storey fourplex will be owned… Read More…

  • New Programs Support Housing Development Costs in PEI

    New Programs Support Housing Development Costs in PEI

    June 21, 2024 Over $25 million in new financial support programs will help build the infrastructure needed for approximately 700 new construction-ready residential lots.  The Municipal Infrastructure Fund administered through the Federation of PEI Municipalities will provide a non-repayable grant, up to a maximum of $300,000, to developers creating lots and subdivisions within municipalities in rural PEI… Read More…

  • The Construction Industry in Quebec: Productivity Issues Go Beyond the Reforms of Act R-20

    The Construction Industry in Quebec: Productivity Issues Go Beyond the Reforms of Act R-20

    June 21, 2024 The Quebec government has just adopted the Act to modernize the construction industry, and the Centre for Productivity and Prosperity – Walter J. Somers Foundation (CPP) has now released a study concluding that these reforms will not be enough to improve the industry’s real productivity. “The construction industry is at a turning point,” explains Robert Gagné,… Read More…