Principal Industries acquires GENLED Brands

Principal Industries has acquired GENLED Brands, expanding its reach in signage and architectural illumination as it adds new LED lighting products and engineering capabilities. Financial terms of the transaction were not disclosed.

Principal, described in the announcement as a leading provider of LED components and engineered assemblies backed by private equity firm Wynnchurch Capital, said the deal broadens its offerings across key lighting and illumination applications. GENLED, based in East Rutherford, New Jersey, designs, engineers, and assembles premium LED lighting products, systems, and customized solutions for customers worldwide.

GENLED serves signage, architectural, and commercial lighting applications and has built its business around innovation and tailored lighting solutions. According to the announcement, the acquisition is highly complementary to Principal’s existing operations and is expected to strengthen the combined company’s position in the signage, architectural branding, and commercial lighting markets.

Todd Fiske, CEO of Principal, said the deal adds both products and expertise to the company’s platform.

"GENLED is a highly complementary addition to the Principal platform. The Company has built a reputation for innovation, product quality, and customer service, and its differentiated product portfolio expands our capabilities across key lighting and illumination applications. We are excited to welcome Scott and the entire GENLED team to Principal and look forward to building on our shared commitment to delivering superior solutions for our customers."

Scott Vontobel, CEO of GENLED, said the companies share similar priorities as GENLED enters what he described as its next phase of growth.

"Principal is the ideal partner for GENLED as we enter our next phase of growth. Both organizations share a customer-first culture, a focus on innovation, and a commitment to providing high-quality LED solutions. By joining forces with Principal, we will be better positioned to serve our customers, expand our product offerings, and capitalize on new opportunities in the market."

The transaction also aligns with Wynnchurch Capital’s strategy of supporting portfolio companies through strategic acquisitions aimed at expanding product capabilities and accelerating growth. Wynnchurch currently manages approximately $9.1 billion in assets under management and focuses on middle-market investments across North America.

Foley & Lardner LLP served as legal advisor to Wynnchurch. Willkie Farr & Gallagher LLP served as legal advisor to GENLED, and GulfStar Group acted as GENLED’s investment banking advisor.

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