Levine Leichtman Capital Partners' Portfolio Company Luminator Technology Group Completes Acquisition of DRI Corporation
July 16, 2012 – Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that Luminator Technology Group, LLC (“LTG”; www.luminatortechnologygroup.com), a portfolio company of Levine Leichtman Capital Partners IV, L.P., has successfully completed the strategic acquisition of DRI Corporation (“DRI”) through the purchase of DRI’s Twin Vision operating assets and the stock of its foreign subsidiaries. DRI’s Twin Vision and Mobitec brands are recognized as leaders in designing, manufacturing and selling electronic destination signs.
The combination will enhance LTG’s ability to be a leader in servicing the global bus market and greatly expand LTG’s presence in key emerging markets.
Lauren Leichtman, Co-Founder and CEO of LLCP, commented, “The DRI acquisition is an important strategic addition to the LTG platform, which will strengthen the company’s product offering and significantly expand its international presence. The transaction will be highly accretive and generate significant synergies that will ultimately provide value to the Company’s stakeholders.”
“The transaction with DRI will enable LTG to move forward as a stronger business and provide our valued customers with the most innovative products and superior service,” said Avi Zisman, President and CEO of LTG. “Utilizing LTG’s strength of innovation, along with the Twin Vision and Mobitec scale, we can bring our technology to our global customer base like never before.”
About Luminator Technology Group
Founded in 1934 and based in Plano, TX, LTG is the leading manufacturer and integrator of LED-based lighting and display technology as well as passenger information systems to the global mass transportation industry. The Company serves three primary end markets: bus, rail, and aircraft. LTG is the parent of Luminator, Lawo, and Focon. Based in the U.S., Luminator and its Twin Vision affiliate sell specialized lighting and signage products for North American bus, rail, and global aircraft customers. Lawo, based in Germany, focuses on signage for the global bus and light rail segment. Mobitec, with operations in Sweden, Germany, Brazil, India and Australia, is a leader in providing electronic information display systems to the global bus market. Focon, based in Denmark, provides passenger information systems for global rail customers.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners is a Los Angeles, California-based investment firm that manages approximately $5.0 billion of institutional investment capital through private equity partnerships, distressed debt and leveraged loan funds. LLCP is currently making new investments through Levine Leichtman Capital Partners IV, L.P., Levine Leichtman Capital Partners SBIC Fund, L.P. and Levine Leichtman Capital Partners Deep Value Fund II, L.P. Prior investments by Levine Leichtman Capital Partners include CiCi’s Pizza, Hackney Ladish, Jon Douglas Real Estate Group, Overhill Farms and Quizno’s.