Toby Smith Stock Review

[MLD38]

LSGP: Pegasus Partners, its funds, etc
http://www.ledsmagazine.com/news/4/10/11
re LED Holdings and Lighting Science Group combine forces
...Pegasus Capital Advisors, L. P. is a private equity fund manager that provides capital to middle market companies across a wide variety of industries primarily in the U.S....

Funds under management include the following:
http://www.pegasusinvestors.com/portfolio.asp
Pegasus Partners/Pegasus Related Partners, L.P. ("Fund I")
Pegasus Partners II, L.P. ("Fund II")
Pegasus Partners III, L.P. ("Fund III")
Pegasus Partners IV, L.P. ("Fund IV")


Pegasus Fund IV: see LED Effects
http://www.pegasusinvestors.com/portfolio.asp?mode=view&fund=4&id=70
....LED Effects is a worldwide leader in LED lighting design and engineering. The owner of proprietary technology, the company is playing a leading role in the transition from traditional lighting to the use of LED’s, which consume less power, last longer and offer enhanced flexibility in design and control. Founded in 1993, LED Effects has built a worldwide franchise based on its providing the latest technology, superb engineering, outstanding reliability and exceptional customer support....

Link to LED Effects opens LEDholdings (which shows Lighting Science
http://www.ledholdings.com/


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LED Holdings and Lighting Science Group combine forces
http://www.ledsmagazine.com/news/4/10/11
NOTE clicking on the LED Effects link on the right opens webpage to Lighting Science Group Corporation
http://www.ledholdings.com/

LED Effects :
...In June 2007, LED Holdings acquired LED Effects, a designer and manufacturer of custom LED lighting and digital lighting controls. Govi Rao, formerly Vice President and General Manager of the Philips Solid State Lighting business in North America, joined LED Holdings as president and CEO...

...LED Effects acquired, appoints Govi Rao as CEO...
http://www.ledsmagazine.com/news/4/6/26
...Pegasus Capital Advisors has acquired a majority interest in the business of LED Effects, a designer and manufacturer of LED lighting products.

The Sacramento, CA-based company is one of the few to offer true digital control technology with in-house design, and provides custom lighting solutions for architectural and artistic projects alongside its core business in the gaming industry...
...LED Effects also announced the appointment effective July 1 of Govi Rao as president and CEO. Rao is currently vice president and general manager of the North American Solid State Lighting Luminaries business at Philips Lighting Company....

(This Philips unit will be merged with Color Kinetics following the latter's acquisition by Philips - see News http://www.ledsmagazine.com/news/4/6/22 ).



Govi Rao said:
..."I am thrilled to be joining the business at this exciting time,"... "The company’s people, intellectual property and technology leadership are the cornerstones of a solid foundation, and I believe this combination will enable us to bring unique and innovative solutions to our customers worldwide."...

Rao said:
... that Philips has worked with LED Effects in the past 2 years as one of its suppliers and integration partners for LED-based lighting projects such as last year's Saks Fifth Avenue snowflakes display...

( see Related Story re snowflakes display, etc http://www.ledsmagazine.com/news/3/11/25 )

Rao also said:
..."LED Effects intends to continue working with Philips,"..."Collaboration is essential to help develop a SSL 'ecosystem' where multiple players can be successful." ...
...LED Effects was founded in 1993 before LEDs were considered lighting devices and initially developed LED products for the gaming industry....


Kevin Furry, co-founder and current president of LED Effects said:
... “This is an incredibly exciting development for us and provides the support we need to outpace market growth. Since 1993 we have been visionaries in the use of LED lighting before there was an industry, and now we have the resources for the tremendous opportunities ahead.”..
...The company has about 35 people and sales of about $15 million...

...Rao says that Pegasus has made the acquisition with a view to growing the company. As well as continuing to work in the gaming industry, LED Effects will work on custom lighting projects and develop a portfolio of lighting products, as well as video walls, using its expertise in intelligent digital control and integration....



Richard Weinberg, a partner at Pegasus, said:
...“LED lighting is clearly the wave of the future, and we are thrilled to be partnering with the market leader in this field,” ...“LED lighting has enormous benefits over traditional lighting technologies – lower energy consumption, longer life and enhanced flexibility in design and controls – and we believe the company is extremely well positioned to capitalize on this transition."...