Wafra Partners LLC and its affiliates (“Wafra”)* are pleased to announce the sale of Best Lighting Products, Inc. (“Best Lighting”) to an affiliate of Corinthian Capital Group, LLC. Headquartered in Pataskala, OH, Best Lighting is the leading designer and manufacturer of private label emergency and exit lighting products in the United States, serving a large and diverse base of customers. The company sells a diverse portfolio of lighting products across the commercial, industrial and institutional lighting industry primarily to manufacturers and OEMs.
According to Michael Goodman, a Managing Director at Wafra, “We were pleased to have had the opportunity to work closely with management in order to transition Best from being a relatively small family owned business. Through the implementation of various organization development initiatives, Best is now a rapidly growing company that is no longer solely dependent on third party manufacturers, has improved product development capabilities and on-time delivery rates, develops higher quality products and has better supply chain management. Best expanded its OEM relationships and significantly increased its revenue and profitability. We enjoyed working with Jeff Katz and his management team and wish them well with their new partners.”
Jeffrey Katz, CEO of Best Lighting said, “Working with Wafra Partners has been a great experience. They provided management with the financial and strategic support necessary to help us achieve our goals. We are now in a position to further accelerate growth with the help and resources of our new partners.” Best was originally founded by Jeffrey Katz, and his father, Alvin Katz.
Based in New York, Wafra Partners LLC and its affiliates focus on investing in traditional middle-market companies and partnering with continuing management to develop and execute its strategic growth plan. Wafra can invest up to $30 million of equity per transaction and has a particular interest in consumer products, consumer-driven services, outsourced business services and niche manufacturing. For more information, visitwww.wafrapartners.com.
About Wafra Partners
Since 1990, Wafra Partners^ has focused on investing in and building industry leading businesses. Wafra Partners invests in middle-market companies across a wide range of fragmented, consolidating sectors within the consumer, niche manufacturing, and specialty services industries. The firm pursues control transactions with enterprise values between $20 million and $200 million to serve as platforms for a buy-and-build growth model. Wafra Partners’ patient capital, management-centric approach, extensive third-party relationships, and growth focus provide a solid base from which to generate long term value.
^Wafra Investment Advisory Group, Inc. (“WIAG”), an affiliate of Wafra Partners LLC, has been making direct equity investments since 1990. Wafra Partners LLC was separately founded in 2001 to find companies and investments within the parameters and sectors set forth herein and in which WIAG and its clients could invest.