Acuity Brands Completes Acquisition of Distech Controls
September 01 2015 - 5:16PM
ATLANTA,
September 1, 2015 - Acuity Brands, Inc. (NYSE: AYI; "Company")
today announced that its wholly-owned subsidiary, Acuity Brands
Lighting, Inc., completed the previously announced acquisition of
Distech Controls Inc., a leading provider of building automation
and energy management solutions that allow for the seamless
integration of lighting, HVAC, access control, closed circuit
television, and related systems. Acuity Brands Lighting
acquired all of the outstanding capital stock of Distech Controls
for approximately 318 million Canadian dollars.
Vernon J. Nagel, Chairman,
President, and Chief Executive Officer of Acuity Brands, said "The
combination of Acuity Brands' broad-based industry-leading lighting
portfolio, control technologies, and integrated digital solutions
along with Distech Controls' wide-breadth of innovative products,
services, and solutions that optimize comfort and energy efficiency
in buildings will contribute to our tiered solutions strategy for
making buildings smarter and more simple to operate. Distech
Controls will enhance our ability to offer true end-to-end
optimization of all aspects of the building, including improved
occupant experience, quality visual environment, energy efficiency,
operational cost reductions, and increased digital functionality,
by leveraging the capability to collect vast amounts of data to
better enable the Internet of Things for building owners.
Distech Controls provides an additional robust platform for our
future growth while also allowing us to continue to diversify and
strengthen our foundation making it less reliant on new
construction."
About Acuity Brands
Acuity Brands, Inc. is a North
American market leader and one of the world's leading providers of
lighting solutions for both indoor and outdoor applications. With
fiscal year 2014 net sales of $2.4 billion, Acuity Brands employs
approximately 7,000 associates and is headquartered in Atlanta,
Georgia with operations throughout North America, and in Europe and
Asia. The Company's lighting solutions are sold under various
brands, including Lithonia Lighting®, Holophane®, Peerless®,
Gotham®, Mark Architectural Lighting(TM), Winona® Lighting,
Healthcare Lighting®, Hydrel®, American Electric Lighting®,
Carandini®, Antique Street Lamps(TM), Sunoptics®, RELOC®
Wiring Solutions, eldoLED® and Acuity Controls(TM).
Forward Looking
Information
This release contains
forward-looking statements, within the meaning of the Private
Securities Litigation Reform Act of 1995. Statements that may be
considered forward-looking include statements incorporating terms
such as "expects," "believes," "intends," "estimates", "forecasts,"
"anticipates," "may," "will," "should," and similar terms
that relate to future events, performance, or results of the
Company and specifically include statements made in this press
release regarding: the many benefits of the acquisition of Distech
Controls, including enhancement of the Company's ability to offer
true end-to-end optimization of all aspects of the building while
also providing an additional robust platform for future growth
which will allow for the continued diversification and
strengthening of the Company's foundation that is less reliant on
the new construction. Forward-looking statements are subject
to certain risks and uncertainties that could cause actual results
to differ materially from the historical experience of Acuity
Brands and management's present expectations or projections. These
risks and uncertainties include, but are not limited to, customer
and supplier relationships and prices; competition; ability to
realize anticipated benefits from initiatives taken and timing of
benefits; market demand; litigation and other contingent
liabilities; and economic, political, governmental, and
technological factors affecting the Company. Please see the
other risk factors more fully described in the Company's SEC
filings including risks discussed in Part I, "Item 1a. Risk
Factors" in the Company's Annual Report on Form 10-K for the year
ended August 31, 2014. The discussion of those risks is
specifically incorporated herein by reference. Management
believes these forward-looking statements are reasonable; however,
undue reliance should not be placed on any forward-looking
statements, which are based on current expectations. Further,
forward-looking statements speak only as of the date they are made,
and management undertakes no obligation to update publicly any of
them in light of new information or future events.
#
# #
Company
Contact:
Dan
Smith
Acuity Brands, Inc.
dan.smith@acuitybrands.com
(404) 853-1423
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Acuity Brands, Inc via Globenewswire
HUG#1949151
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