Cyprium Partners, a non-control private equity firm, has completed a preferred equity investment in ACT Lighting, Inc. Cyprium’s capital was used to facilitate a strategic acquisition, redeem outstanding debt, and provide growth capital.
Founded in 1993, ACT Lighting, Inc. is a specialized distributor of lighting control consoles, lighting fixtures and ancillary products for the live entertainment market. As the exclusive U. S. distributor for two premier European OEMs, Clay Paky and MA Lighting, ACT enjoys a unique market position and is relied upon by lighting designers, tour operators and rental companies to provide high-quality products and technical support. In addition to these core product lines, the company offers an increasing number of other products required to stage live concerts and events, such as chain hoists, fog machines, cabling and other accessories. ACT was acquired from its founder by current CEO Ben Saltzman and private investors in 2014, all of whom remain shareholders.
A portion of Cyprium’s investment supported ACT Lighting’s strategic acquisition of AC Power Distribution, Inc. AC Power was founded in 1991 and manufactures UL Listed power distribution products, primarily targeting film and television studios. These power supply products are also used for concerts and other live entertainment events serviced by ACT, which previously did not carry this product category, generating significant cross-selling opportunities.
“Cyprium is excited to partner with the existing ACT shareholders and management team to help the company continue executing its growth strategy,” said Beth Haas, a Partner at Cyprium. “They have developed a great platform with excellent industry relationships, and we expect to drive meaningful growth by expanding ACT’s product suite through further acquisitions and organic product line extensions.”
ABOUT ACT LIGHTING
Based in Hackensack, New Jersey, ACT Lighting is a leading importer and distributor of lighting and related products sold to the live entertainment industry. ACT Lighting strives to identify future trends and cutting-edge products, and stock, sell and support their inventory. The company provides superior customer service and value to all its clients. For more information visit www.actlighting.com.
ABOUT CYPRIUM PARTNERS
Cyprium Partners is a private equity and mezzanine firm focused on non-controlling investments in profitable middle-market companies, allowing company owners and their management teams to retain a controlling interest in their businesses. Cyprium provides common equity, preferred stock, subordinated debt or any combination thereof, offering flexibility and increasing the certainty of close. With offices in Cleveland, New York, and Chicago, the firm invests $10 million to $60 million per transaction in U.S. and Canadian companies with $8 million or more of EBITDA. Learn more about Cyprium Partners at: www.cyprium.com.