Private equity firm CORE Industrial Partners LLC purchased Fleco Industries Inc., a Carrollton, Texas-based lighting solutions company.
Fleco will rebrand as Saylite, which reflects one of its brand names. Saylite CEO Jon Sayah will keep his role and CORE Industrial senior partner Frank Papa will join Saylite as board chairman.
CORE Industrial plans to continue to seek add-on acquisitions for Saylite and other industrial technology platforms across North America.
Norton Rose Fulbright US LLP offered legal assistance to CORE Industrial with respect to the transaction, while KPMG Corporate Finance was financial adviser to Saylite.
Chicago-based CORE Industrial targets lower-middle-market manufacturing and industrial technology companies in North America.
