ForceField Energy,
international manufacturer, seller, and distributor of energy products and
solutions, recently announced that it had finalized the purchase of the assets
of Catalyst LEDs LLC. As a provider of customized LED lighting products and
solutions, Catalyst LEDs LLC and its cost-cutting, energy-efficient lighting
products will strengthen ForceField Energy’s product portfolio and market reach
throughout North America. ForceField Energy’s acquisition of Catalyst LEDs LLC
also gives it a direct-to-consumer, web-based platform that will strengthen
ForceField Energy’s marketing of its existing product lines.
It was reported that
ForceField Energy had purchased Catalyst LEDs LLC’s assets for a combination of
cash and its common stock. The transaction’s specific terms were not disclosed.
Catalyst LEDs LLC serves as
an authorized vendor for a number of leading companies, including General
Motors. The company offers a broad range of LED products and customized
solutions which are intended for commercial and retail customer audiences. It
also has designed a number of lighting systems for multiple industries and
collaborated with energy-management companies, electrical supply houses, and
electricians throughout North America.
The Catalyst LED brand name,
product lines, and website will be maintained, so as to build upon Catalyst
LEDs LLC’s established recognition within the LED industry. Catalyst LEDs LLC’s
founder and President, Cory Turnbull will join ForceField Energy as its
Director of LED Sales in the United States.
Stéphane Vachon, Vice
President of Operations for ForceField Energy, remarked, “With Cory Turnbull
and the Catalyst brand name, we have strengthened our ability to offer
significant value to commercial and retail LED customers throughout North
America. Cory is a highly respected and talented individual, and we feel very
fortunate to welcome him aboard our team. He has realized excellent success at
Catalyst, and we look forward to him continuing that momentum with ForceField
Energy.”
Mr. Vachon added, “We
believe that the strategy and value behind this transaction will be very
compelling to our shareholders. This was a unique opportunity for us to acquire
an asset and customer base at an attractive price; and that strengthened our
product offering as well as adding a multi-million dollar bid pipeline that
ranges from small- to Fortune 500-sized businesses. By combining our
distribution networks and access to capital markets with Catalyst’s
demonstrated capabilities and products, we believe that we can expand our
footprint in the North American and international marketplaces.”
Mr. Turnbull further
emphasized the synergy created by ForceField Energy’s strategic acquisition of
Catalyst. “This acquisition was the perfect opportunity to join an emerging
company with excellent LED products and solutions, and strong international
distribution capabilities. Having a broader product portfolio will enable us to
develop unique plans for our customers to reduce their energy consumption,
improve sustainability, and realize a greater return on investment. I look
forward to working with the ForceField Energy team to leverage our collective
strengths and take ForceField Energy to the next level,” Mr. Turnbull stated.
For more information, visit:
www.forcefieldenergy.com
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