Hubbell Incorporated announced the acquisition of the Kurt Versen Company for approximately $100 million.
Located in Westwood, NJ, Kurt Versen manufactures specification-grade lighting fixtures for a full range of office, commercial, retail, government, entertainment, hospitality and institution applications. The company is an integrated manufacturer.
Kurt Versen is nationally recognized by lighting consultants, architects, engineers and other lighting specifiers for providing lighting solutions characterized by visual aesthetics, photometric performance and mechanical design. The company’s lighting fixtures are incorporated in hundreds of prominent projects and numerous high-profile installations, including the United Nations General Assembly, the Los Angeles International Airport and the U.S. Supreme Court.
The acquisition enhances Hubbell Lighting’s package of 16 excellent premium lighting brands, including such respected brands as Kim Lighting, Architectural Area Lighting, Alera Lighting, and Sportsliter Solutions. Hubbell Lighting purchased Kurt Versen to strengthen Hubbell's position in the key spec-grade downlighting market segment.
“Kurt Versen is very complementary to Hubbell Lighting and will be accretive to Hubbell’s 2008 results,” said Timothy H. Powers, president and CEO of Hubbell. “[Kurt Versen's] reputation is built upon consistently introducing innovative fixtures to the market, its steadfast commitment to quality and its ability to expedite delivery of customized fixtures. This is a major addition to our current offering of both Prescolite and Progress brands, which extends our product breadth and depth through all segments of the non-residential and residential lighting markets.” EC