Angeles Equity Acquires Controlling Interest in ERP Power

Angeles Equity Partners, LLC, a private investment firm focused on value creation through operational transformation, today announced that it has acquired, through an affiliated entity, a controlling interest in ERP Power, LLC (ERP), an LED driver business based in Moorpark, California. Financial terms of the transaction were not disclosed.

During the recent LIGHTFAIR® International, ERP and Avi-on Labs Inc. demonstrated an easy-to-use, plug-n-play connected lighting control solution for LED luminaires. Leveraging mesh Bluetooth communications technology with utility-grade security, proprietary firmware, mobile software apps, and IoT cloud infrastructure – LED lighting manufacturers can deliver to their customers a high-quality, affordable lighting controls capability that is designed to last for the lifetime of the installation.

“ERP and Avi-on are showing the lighting industry how easy it is to offer a secure, plug-and-play, wireless controls architecture leveraging a turnkey solution of app, cloud, and firmware pre-integrated with proven LED drivers,” said Michael Archer, CEO of ERP Power. “Powered by Avi-on, the EXS and ERP drivers from ERP join a large and interoperable ecosystem of connected lighting products.”

Angeles Equity Partners is partnering with ERP management to realize the company’s full growth potential and drive consolidation in the sector. The deal leverages the Angeles Equity Partners team’s previous power electronics sector investment experience and operational transformation expertise.

“ERP is recognized by the market as a leading provider of LED drivers that are enabling the evolution from analog to digital in the lighting industry. We see this as a compelling opportunity for our firm to partner with a great management team and position ERP to outperform the market, deliver superior financial results and drive industry consolidation,” said Timothy Meyer, co-founder and managing partner of Angeles Equity Partners.

“We envision a future where LED lighting will be the backbone of the Internet of Things (IoT), enabling a completely new connected world where light becomes data and delivers engaging interactive experiences for people everywhere,” said Michael Archer, CEO of ERP Power. “The Angeles Equity Partners team has significant experience creating value in businesses in which they invest. We believe – based on AEP’s power electronics industry experience, operational capabilities, and M&A expertise – they are the right partner to help us achieve our long term potential.”

“ERP is an innovative leader in the LED lighting revolution," said Jack Zukerman, CEO of LF Illumination, and legendary entrepreneur whose energy saving technologies have captured the admiration and imagination of the architectural lighting industry. "Because of their technology, responsiveness, flexibility and service, ERP is instrumental to LF Illumination's growth as a key partner who delivers ever-smaller LED drivers with superior dimming, flexible programming, and intelligent controls."

“This is a proprietary transaction that aligns tightly with our firm’s strategy and capabilities; and is the result of a proactive, thesis-driven deal origination strategy leveraging our power electronics sector knowledge. We view ERP as the ideal cornerstone investment to build a leading scale asset in the LED drivers space,” said Jordan Katz, co-founder and managing partner of Angeles Equity Partners.