Coleman Cable, Inc. (CCI) announced that it has completed the acquisition of the assets of The Designers Edge, Inc., a designer and distributor of specialty lighting products in the U.S. and Canada, for approximately $10.9 million in cash.
The acquisition will expand CCI's product portfolio across a range of lighting product categories, including industrial, work, and utility, as well as products for security and landscape applications.
"The Designers Edge represents a great opportunity for us to immediately and meaningfully expand our presence in a number of key product categories," said Gary Yetman, president and chief executive officer of Coleman. "The Designers Edge has long been recognized for its strong assortment and product innovation, which are attributes we believe we can leverage and capitalize on when The Designers Edge portfolio and ours are combined."
The acquisition of the assets of The Designers Edge, whose annual sales were in excess of $20 million for 2010, was an all-cash transaction that closed on April 1, 2011.