U.S.-based private-equity firm Platinum Equity has acquired a controlling interest in Montreal-headquartered lighting manufacturer LMPG.

LMPG specializes in making specification-grade LED lighting products for commercial buildings and infrastructure.

Financial terms were not disclosed.

The companies announced that Platinum is acquiring shares held by existing institutional investors. A news release did not disclose the percentage of Platinum’s ownership, saying instead that the company was making a “significant investment.” But LMPG Founder François-Xavier Souvay told trade publication Inside Lighting that Platinum was acquiring a controlling interest in the firm.

Founder François-Xavier Souvay and W Investments are retaining equity, as are President and CEO Peter Timotheatos and members of the company’s management team. They will remain significant investors. Souvay told Inside Lighting that he is rolling 100% of his equity into the merged company and not taking any cash, making he and Platinum the firm’s two primary shareholders.

Timotheatos will continue to lead the company.

LMPG designs and manufactures customized lighting products for commercial buildings and infrastructure. Its products are used in urban infrastructure, healthcare and education properties and other commercial projects.

The Longueuil, Que.-based company owns and operates seven manufacturing facilities globally, with production spanning Canada, the United States, Mexico and Italy.

Its portfolio includes the Lumenpulse, Fluxwerx, Sternberg, Exenia, Pa-Co, Lumca, ALW and Vode lighting brands.

LMPG supplies lighting through a network of agencies serving architects, engineers and designers. Its products include controls that adjust lighting based on occupancy, daylight and time of day to reduce energy use and maintenance costs.

Platinum said it plans to support LMPG’s growth through operational initiatives, new product development and additional acquisitions. The investment firm cited long-term demand from commercial construction and infrastructure spending.

“Canada has long been an important market for us, and we’ve developed a deep understanding of its industries and business environment,” said Platinum Equity Co-president Louis Samson. “This is our second transaction in Quebec in the last 24 months, and we are excited to continue growing our presence there and pairing our capabilities with the region’s thriving community of entrepreneurs.”

Souvay founded LMPG in 2006. The company has expanded through organic growth and acquisitions.

Platinum Equity is headquartered in Los Angeles and manages approximately US$48 billion in assets. The company has completed more than 550 acquisitions since it was founded in 1995.

Pictured: LMPG’s Lumenpulse headquarters and manufacturing complex in Longueuil, Que.

Photo: Lemay