Principal Industries (San Angelo, TX) has announced the acquisition of SloanLED.
The deal “strengthens and diversifies Principal’s product portfolio in new and existing end markets while expanding its footprint in and outside of North America,” according to a press release from Principal Industries. The announcement says there will be no immediate changes to distribution or product lines.
“The Vincent brothers and I are beyond excited to welcome SloanLED into the Principal family. Bringing together the two most highly regarded LED brands in the industry gives us access to a vast array of capabilities,” Principal Industries CEO Todd Fiske is quoted in the release. “This will accelerate our development of innovative and useful solutions while striving to simplify the lives of our customers.”
Steve Shotwell, president and COO of SloanLED, said, “I look forward to combining the strengths of two market leaders and providing our customers with the best and most innovative product solutions, services and support across all of our business segments around the world.”
Principal Industries consists of its namesake LED brand, as well as SloanLED, Ventex Technology, Principal Services and LED Wizard.
For more information, visit pindustries.com.