Business | Cree Lighting | Advanced Lighting Technologies | Sep 12, 2023

Advanced Lighting Technologies Acquires Cree Lighting

Advanced Lighting Technologies, LLC (“ADLT”) announced that its affiliate, CLNA Holdings LLC, (“CLNA”) has acquired all of the equity interests of CREE LIGHTING USA, CREE LIGHTING CANADA CORP. and E-CONOLIGHT LLC (together “Cree Lighting”) from IDEAL INDUSTRIES, INC., and IDEAL INDUSTRIES (CANADA), CORP.

Cree Lighting is a market leader and innovator of outdoor and indoor LED lighting. Cree Lighting can trace its beginnings to Ruud Lighting, which was founded in 1982 by Alan Ruud. Ruud Lighting launched the industry’s first widely adopted LED luminaires in 2007. Ruud Lighting was part of the ADLT family during this time period before breaking off to become a standalone entity. In 2011, Ruud Lighting became the biggest acquisition of Cree Inc. (now known as Wolfspeed, Inc.) and the resulting Cree Lighting continues as a market leader in a broad range of LED lighting products.

Cree Lighting joins the ADLT Lighting Group family (“ALG”) which will generate combined annual sales of approximately $350 million and employ over 1,375 associates in facilities located across five continents.

Sabu Krishnan, Chief Executive Officer of ADLT, commented, “We are extremely happy to welcome the Cree Lighting team to the ALG family. Given our common history, the acquisition of Cree Lighting represents a homecoming of sorts. Adding the Cree Lighting brand names to the ALG portfolio will enhance the already strong ALG position in the LED products marketplace. This acquisition represents the achievement of another step in an ambitious growth strategy that started with our acquisition of Cree Italy in 2022. Look for more acquisitions in the future.”

As to the sale, the IDEAL Industries, Inc. goal was to find a home for Cree Lighting with a company that would allow them to flourish. The combination of ADLT and Cree Lighting will present exciting opportunities for synergy and growth between the companies. Steve Henn, CEO of IDEAL Industries, Inc., said “Cree Lighting has been an integral part of our journey, and we are sincerely grateful for their contributions. However, we believe that this strategic separation will position IDEAL Industries, Inc. for accelerated growth and enhance our ability to capitalize on emerging opportunities in the industry.”