Kichler Lighting

Kingswood Capital Management, LP (together with its affiliates, “Kingswood”) announced today that it has acquired Kichler Lighting, LLC (“Kichler”) from Masco Corporation (NYSE: MAS). Kingswood will merge Kichler with its portfolio company, Progress Lighting, LLC (“Progress”) to create one of North America’s leading residential lighting platforms featuring complementary, industry-recognized brands. The combined company will benefit from expanded distribution and service capabilities and a robust product catalog that is well positioned to serve customers across the homebuilder, trade, showroom, retail, and ecommerce sales channels. The company’s go-to-market strategy will feature both the Progress and Kichler brands, which were founded in 1906 and 1938 respectively.

The go-forward management team is made up of legacy Progress and Kichler executives. Sean Veit, former Progress Chief Executive Officer, will serve as Chief Executive Officer of the combined company, and Vijay Shankar, former Kichler President, will serve as Executive Chairman. Both Sean and Vijay will serve on the company’s Board of Directors.

“This merger marks an exciting milestone for our customers, employees, and other key stakeholders. We are thrilled to be able to support our customers with an expanded portfolio of high-quality lighting solutions and enhanced service capabilities,” said Sean. “With this merger, we look forward to preserving and enhancing the distinct positioning that the Progress and Kichler brands hold in the market.”

Vijay added, “We are very excited about bringing these great brands and organizations together. The combined talent and resources will position us to better serve our customers. Our leadership team looks forward to working thoughtfully through the integration to ensure that our customers are the greatest beneficiaries of this combination.”

"We look forward to supporting Sean, Vijay, and the rest of the team as they work to build a leading platform in the residential lighting industry,” said Michael Niegsch, Partner at Kingswood. “The combination of the Progress and Kichler brands provides the business with unique, complementary strengths across all channels and end markets.”

Configure Partners served as financial advisors, and McDermott Will & Emery served as legal counsel to Kingswood. Lincoln International, Davis Polk & Wardwell, and Baker Botts advised Masco Corporation.

About Kichler Lighting LLC​

Kichler Lighting LLC strives to transform the home and workspace by developing fixtures that perform efficiently, install intuitively and deliver an overall effect that combines style with purpose. With an extensive portfolio of more than 3,000 on-trend products - including lighting, landscape and ceiling fans - and a commitment to providing services and project solutions, Kichler® is the brand homeowners and professionals have known and have trusted since 1938. Kichler Lighting products are available at independent showrooms, Lowe's, The Home Depot, electrical and landscape distributors and online. For more information, visit www.kichler.com.

About Progress Lighting, LLC​

Progress Lighting is a leading source for residential and light commercial decorative lighting solutions with thousands of fixture designs to meet the needs of any project. With over a century of lighting technology, leadership and engineering, Progress Lighting offers the highest quality lighting products and solutions that deliver aesthetic appeal, stellar performance, easy installation, and value to the residential new construction and renovation & remodel end markets. For more information, please refer to the Progress Lighting website at www.progresslighting.com.

About Kingswood Capital Management, LP​

Kingswood Capital Management, LP partners with leading companies in the middle market which stand to benefit from its capital and extensive operating resources. Kingswood embraces complexity and believes it is well-positioned to support businesses at inflection points in their development to enhance value. Based in Los Angeles, Kingswood is a cohesive, entrepreneurial team with a long history of shared success developing “win-win” partnerships with its portfolio companies and management teams. For more information, please refer to the Kingswood website at www.kingswood-capital.com.

Masco Corporation (NYSE: MAS) announced today that it has signed a definitive agreement to sell its Kichler Lighting business to an affiliate of Kingswood Capital Management for a purchase price of approximately $125 million, subject to customary adjustments.

Headquartered in Solon, Ohio, Kichler Lighting is a provider of decorative residential and light commercial lighting products, ceiling fans and LED lighting systems across both consumer and professional distribution channels. Kingswood Capital Management, a private investment firm based in Los Angeles, California, is the owner of Progress Lighting, also a provider of residential and light commercial decorative lighting solutions.

“Under Masco’s ownership, Kichler has undergone a series of transformations which have generated efficiencies within its business, improved customer service, and enabled greater product innovation. Going forward, we believe this business has greater potential to realize future growth as part of an organization with a more concerted focus on lighting,” said Keith Allman, President and CEO, Masco Corporation. “We are confident this transaction will be mutually beneficial to Kichler Lighting and Kingswood Capital Management, while simultaneously driving greater value for Masco shareholders.”

The transaction is expected to be completed prior to the end of the year, subject to customary closing conditions and regulatory approvals.

Kichler Lighting LLC, a leader in innovative lighting and ceiling fans, infuses its newest decorative collections with a touch of whimsy and a focus on airy elements. Inspired by nature's organic beauty, this launch brings a breath of fresh air to the home, blending the most-loved modern and traditional styles, through versatile finishes, glass and metal combinations.

"Beauty meets flexibility with our new families, offering a little something for everyone," says Kichler's Creative Director Greg Martin. "We wanted to create playful sophistication with features like convertible chandeliers. Most importantly, we didn't want to lose sight of the ability to personalize and set the perfect mood in any room. I think we achieved that goal."

Kichler Lighting's latest line of fixtures includes 10 new families, available in an array of finishes and combinations to perfectly complement unique style preferences.

Alvaro
There's something about the curvature of a calla lily that speaks to grace and unity. Designed in 90-degree angles, the Alvaro collection mirrors this blooming beauty, seamlessly flowing outward and upward as one unified piece. Alvaro is available in Black, Champagne Bronze™ and Polished Nickel finishes.

Eisley
The Eisley collection was inspired by the trend of contained forms, where one shape is nested within another. This collection is constructed without glass, giving the illusion that the fixture is floating, turning any space into a stunning illumination. Eisley comes in Champagne Bronze™ and Black, or Polished Nickel and Black combinations.

Carrick
Inspired by the classic and timeless ring chandelier, the Carrick collection is gentle in nature. It appears light as air, with its subtle bobeche detailing and delicate intricacy. It's spectacular visually without overwhelming a space, making it the perfect addition to expansive interiors. Carrick is available in Black, Champagne Bronze™ and Polished Nickel finishes.

Etcher
Cheers to the Etcher collection, reminiscent of a champagne bucket design with its tapered silhouette, riveted accents, and smooth exterior. A true classic, Etcher comes in four finish combinations, giving you the flexibility to mix and match with a variety of styles and decor. Finish options include Black, Champagne Bronze™, White and Classic Pewter.

Malene
The Malene collection is inspired by the graceful movement of rippling water—gentle, flowing and captivating. These characteristics come to life in its soft, sweeping arms and elegant, stacked details. This collection also offers the option of two different candle sleeves, white for a traditional look or the primary finish for a modern look. Both can be paired with Black, Champagne Bronze™ and Polished Nickel finishes.

Silvarious
Sophisticated yet whimsical, the Silvarious collection was designed to be talked about. Gathered at the center, its arms branch out with glass globes that are available in clear or crackled glass. For a nostalgic, playful look, the Silvarious collection makes any room shine. The family is available in Black, Champagne Bronze™ and Polished Nickel finishes.

Sycara
The Sycara collection is inspired by the rare atmospheric phenomenon of light pillars, where ice crystals in the sky collect and refract natural light, appearing as light beams in the air. With a subtle edgy sensibility, this collection features a clean, architectural body and an integrated LED light source that shines through its faceted crystals – delivering visual interest, no matter the time of day. Sycara comes in Black, Champagne Bronze™ and Polished Nickel finishes.

Carston
Inspired by classic picture lights found in historical libraries and reading parlors, the Carston collection is designed to draw the eye's attention in. Refined and timeless, Carston offers craftsmanship and thumbscrew functionality to achieve the perfect lighting. Carston is available in Black, Champagne Bronze™ and Polished Nickel finishes.

Madden
Featuring soft curves and stacking details, the Madden collection unites soft modern with a touch of updated traditional. This family can easily mingle with a variety of styles, décor and other existing fixtures. Madden comes in Black, Chrome, Champagne Bronze™ and Brushed Nickel finishes.

Livadia
Inspired by organic growth formations, Livadia perfectly balances the controlled and uncontrolled. This eye-catching collection spirals like the organic patterns on a conch shell as its graceful arms sweep upward to reveal its candlesticks. Its subtle asymmetric design dynamically changes as you move throughout the room. Livadia is available in Black, Champagne Bronze™ and Polished Nickel finishes.

Champagne Bronze™ is a trademark of Delta Faucet.

Kichler Lighting LLC, a leader in innovative lighting and ceiling fans, introduces a fresh breeze of style and comfort with its new decorative ceiling fan collections. From understated elegance to statement-making designs, they offer something for every space and taste, making it easy to breathe life into any room.

"We focused on both form and performance with this release, infusing the latest lifestyle trends and design details into the functional beauty of each fan," says Kichler Lighting's Product Manager, Ceiling Fans, Scott Williams. "Whether the need is to size up or down, install inside or out, these new fans offer a variety of styles and finishes to complete any look."

Kichler Lighting's latest line of ceiling fans includes four new families, featuring three-blade designs in an array of finishes to perfectly coordinate with décor preferences or mix and match styles and finishes.

Ample
The Ample collection brings out the softer side of modern designs with dual mount installation options that add to its versatility and appeal. Its satin etched cased opal glass provides beautiful, ambient lighting, which delivers an overall illumination to the entire room. Never has a ceiling fan been so simple yet so fantastically complex in all the right ways. The Ample 54" ceiling fan comes in Brushed Nickel, Satin Black, and White finishes.

Fit
With a refreshing take on a simple feel, the Fit collection offers modern style with timeless appeal. Its clean, streamlined form and satin etched cased opal glass allows it to work with a variety of lifestyles. Looking for the perfect fit for your modern minimalist space? Look no further than the Fit 54" ceiling fan, available in Brushed Nickel, Satin Black, and White finishes.

True
The soft curves of the True collection align with the smooth edges of current furniture and decor trends for a clean, sophisticated look throughout modern, minimal environments. True's convenient, easy-to-use remote control allows you to choose from six speeds, reverse, and motor-off all at the push of a button. The 52" fan is offered in Brushed Stainless Steel, Satin Black, Satin Natural Bronze, and White finishes. Complete the look by adding a light source with the Kichler Universal LED Light Kit (not included).

Spyn Lite
Experience the simple, yet impactful design of the Spyn Lite collection. Its clean, straight 52" blades feature a subtle design detail that envelopes and exposes a hint of the motor for a modern industrial effect. Select from the Brushed Nickel finish with Black blades, the Satin Black finish with Silver blades, or the White finish with Silver blades. Complete the look by adding a light source with the Kichler Universal LED Light Kit (not included).

Kichler Lighting LLC, a leader in innovative lighting and ceiling fans, sheds light on every beautiful moment with its latest decorative release. Offering a range of sizes, including extra-large options and finish options across the interior and bath collections, these fixtures can be mixed and matched from room to room, providing a myriad of design possibilities.

"We curated these collections with the whole home in mind, to meet the growing demand for on-trend designs that exude both simplicity and sophistication," says Kichler's Creative Director Greg Martin. "The result is a set of premium looks at attractive price points that offer mass appeal and seamlessly blend with any space."

The collections include eight new families, available in an array of finishes and sizes to fit all types of space:

Adani
The striking silhouette of the Adani collection makes a modern style statement. Its beautiful opal glass illuminates any setting. Elevate your space with its clean detailing and refined finishes in Black, Champagne Bronze™, Brushed Nickel, or Polished Nickel. Adani offers a one-light sconce and two-, three-, and four-light vanity options.

Aviv
The Aviv collection blends on-trend cylindrical design with thoughtful detailing and conveys a sleek style. Just when you think you can't have it all, Aviv makes an entrance with its versatility and timeless accents. Available in Black, Champagne Bronze™, Brushed Nickel, or Polished Nickel finishes, Aviv comes in a one- or two-light sconce.

Benno
The Benno collection features a clean, modern design with hints of industrial detailing. Illuminating through its distinct milky, white opal glass globe, Benno is the perfect accent, with finishes in Black, Black and Champagne Bronze™, Champagne Bronze™, Brushed Nickel, and Polished Nickel. It offers a one-light sconce and two-, three-, and four-light vanity options that can be mounted facing up or down.

Delarosa
Designed to illuminate in style, the Delarosa pendant is luxuriously oversized. Atop the shade features an elegant decorative taper detailing. It's the kind of light that changes the entire feel of a space. This collection is available in Black, White, Champagne Bronze™ and Black, and Champagne Bronze™ and White finishes, with 20" and 24" tall pendant sizes.

Delvin
Breathe sophistication into your space with the Delvin collection. Its layered architectural design lets you make it truly your own. It's removeable clear glass panes allow you to curate your look from formal to casual. Dual finishes in Champagne Bronze™ and White and Champagne Bronze™ and Black make styling easy. Delvin is available as a four-light pendant or six-light linear chandelier and offers varying sizes, including a 44" tall option.

Jemsa
The Jemsa collection is modern elegance, complete with fluted glass and timeless finishes. Jemsa wall sconce's on-trend clear fluted glass exudes sophistication. With its elongated silhouette, this exquisite sconce becomes a focal point. When you want lighting that starts conversations, you want Jemsa. Jemsa comes in Black, Champagne Bronze™, Brushed Nickel, or Polished Nickel finishes and offers a one-light sconce and two-, three-, and four-light vanity options.

Midi
Practicality and style are closely intertwined in the Midi collection. Crisp and delicate, the design of the picture light adds a thoughtful, finished touch. Its adjustable arm allows you to direct the light and highlight your favorite focal points. The Midi shines a spotlight on your most treasured decorative accents in a multitude of spaces. Available in Black, Champagne Bronze™, and Polished Nickel finishes, Midi comes in a variety of sizes, including 24".

Palta
The Palta collection boldly tests the limits of modern minimalism with a sleek, circular profile. Its slim and sculptural style brings artistic awe and wonder to any space. Offered in Black and Champagne Bronze™ finishes, the chandelier comes in a variety of sizes, up to 48".

Champagne Bronze™ is a trademark of Delta Faucet.

Solon, Ohio -- Kichler Lighting LLC, a leader in innovative lighting and ceiling fans, redefines style and ambiance with every glowing detail of its Decorative Exterior Lighting collections. The latest release embraces luxe elements of both modern and updated traditional lifestyle trends – without compromising functionality and performance – to create the perfect outdoor oasis for any home.

"These collections cater to diverse tastes and preferences, giving builders, designers and homeowners several options that balance fine, elegant features with clean lines, while also answering the growing demand for larger scale fixtures," says Kichler's Creative Director Greg Martin. "Not only do our refreshed looks boast on-trend designs, styles and finishes, but they expand our LED and Kichler ClimatesTM offerings."

The Decorative Exterior Lighting collections include nine families, available in Textured Black or Olde Bronze finishes and varying sizes to fit every outdoor space:

Mathus
The Mathus collection updates the traditional lantern style for a new, luxe look. The Mathus Outdoor Wall Light is equally sturdy and stylish, including thicker clear glass planes. Fine beveling adorns each pane's perimeter, matching its Textured Black or Olde Bronze finish options in refined distinction. Mathus is available in a range of sizes up to 30" tall.

Kroft
The classic silhouette and candelabra style get a luxurious update in the Kroft collection. With full interior corner channels, the Kroft Outdoor Wall Light ensures water stays out while stylishly hiding the edge of its thicker clear glass panes. Choose the black candle sleeves for a continuous Textured Black finish or choose the white candle sleeves for added contrast and style. Kroft comes in a variety of sizes, including 24" tall.

Regence
Inspired by the traditional lantern shape, the Regence collection effortlessly refines a home's exterior. The Regence Outdoor Wall Light features thick, beveled clear glass and is offered in varying sizes, including a 26" tall option. A Textured Black or Olde Bronze finish completes this luxurious vision. For maximum stability, its Rigid Stay Straight Stem keeps the lamp holder securely in place.

Branner
Strong, clean lines take center stage in the geometric Branner collection. The Branner Outdoor Wall Light brings a hint of cosmopolitan to your home's exterior. Available in 24" tall and other varying sizes, its strong form in Textured Black or Olde Bronze finish sets the stage for the use of a tube-shape bulb. Its substantial clear glass panes are both sturdy and stylish.

Brix
A fresh take on the classic carriage lantern, the Brix collection enhances outdoor spaces without worrying about the weather. With its soft pill shape, the Brix Outdoor Wall Light keeps the carriage lantern style trendy and timeless. Its ribbed jelly jar glass provides a unique look and in true luxe industrial style, the Textured Black finish makes this one to remember. Part of Kichler Climates, Brix is engineered with a weather-resistant composite material to withstand even the harshest of weather elements.

Hone
Inspired by Parisian style, the Hone collection offers a distinct look that's luxuriously industrial and a construction that's weather resistant. The Hone Outdoor Wall Light encases its bulb in exquisite clear glass. The natural brass around the bulb base beautifully contrasts its industrial Textured Black finish. Part of Kichler Climates, Hone is engineered with a weather-resistant composite material to withstand even the harshest of weather elements.

Talman
Sleek lines, inverted cones and dual finishes, the Talman collection keeps outside spaces illuminated in luxe industrial splendor. Geometric design is the foundation of the Talman Outdoor Wall Light. Its sleek yet soft cage-like design mirrors an industrial style, while subtly ribbed Natural Brass rings ensure elegance, complementing the Textured Black Finish.

Nocar
The Nocar collection's clean, minimal design creates the architectural lighting effect modern homes crave. The Nocar LED Outdoor Wall Light is an architectural beauty. Its ambient wall wash lighting effect draws attention to your home's exterior. Its minimalist design and Textured Black finish subtly add character. Nocar is available in a range of sizes up to 30" tall.

Camillo
The Camillo collection plays with textural elements and smooth finishes, creating depth and dimension.
The Camillo LED Outdoor Wall Light is modern and refined. Its vertical louvers encase clear seeded glass, giving it a dimension that makes you look twice. Dual finishing in Textured Black and Natural Brass enhances your outdoor space.

Kichler's 300W low-voltage Smart Control Transformer offers flexibility to design and schedule up to three independently controlled lighting zones, all from one transformer, so homeowners can customize and control the areas they want to illuminate, all with the Kichler Connects App. You can also connect multiple Smart Control Transformers for even more zoning options. Designed with angled terminal blocks for easier wire connects and heavy-duty, stainless-steel construction, the Smart Control Transformer is ideal for outdoor environments.

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Kichler Lighting LLC, a leader in innovative lighting and ceiling fans, expands its successful smart product family with the launch of its latest offering – the Smart Control Transformer 300W. Providing ease of installation and application, the Smart Control Transformer 300W can be used alone or paired with Kichler's Smart Control Timer and is compatible with other low-voltage landscape lighting. It gives customers the freedom to schedule and control lighting right from their smart device with the Kichler Connects™ app.

"Our Smart Control Transformer will let the customer's voice do the work, illuminating their home from absolutely anywhere, whether they are using Amazon®, Alexa®, or Google Home®," says Kichler's Director of Landscape, Scott Pesta. "We give contractors and homeowners alike the freedom to monitor and program their landscape lighting right from the palm of their hand."

The Smart Control Transformer provides the flexibility to design and schedule up to three separate lighting zones where customers can customize and control the landscape areas they want to illuminate. Users can also connect to multiple smart transformers and/or smart timers for more zoning options. For easy troubleshooting, installers can monitor electrical load by zone and automatic fault detection through the Kichler Connects™ app.

"We are dedicated to providing practical, innovative and user-friendly landscape product solutions to our customers," noted Pesta. "Whether it's for convenience, security or aesthetics, with the Smart Control Transformer, we're making it easier for homeowners to light their exterior spaces based on their needs."

The Smart Control Transformer uses Wi-Fi® connectivity and astronomical timing functionality. Additional features include angled terminal blocks for easier wire connections, manual mode for easy contractor set-up, and heavy-duty, stainless-steel construction that is wet rated for outdoor use.