$LSI Industries (LYTS.US)$ NEWS LSI Industries Acquires EMI ...
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LSI Industries Acquires EMI Industries, Expanding Store Fixtures and Food Service Equipment Business
LSI Industries Inc. (NASDAQ: LYTS) announced the acquisition of EMI Industries for $50 million, expanding its display solutions capabilities within the grocery, convenience store, and restaurant markets. EMI is a Florida-based metal and millwork manufacturer known for customized fixtures, displays, and food equipment. The acquisition aligns with LSI's Fast Forward strategy to drive net sales growth by more than 60% between fiscal year 2023 and fiscal year 2028, with acquisition-related contributions. Financially, EMI reported total revenue and adjusted EBITDA of $87.0 million and $5.5 million, respectively, in 2023. The transaction is immediately accretive to LSI on an adjusted earnings per share basis. LSI funded the acquisition using cash and availability under its existing credit facility, aiming to reduce net leverage in the next 24 months. The deal expands LSI's market presence, provides operational synergies, and enhances its value proposition with customers.
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