AYI - Applied UV to acquire PURO Lighting LED Supply

• Disinfection technology solutions provider Applied UV ( NASDAQ: AUVI ) is set to acquire PURO Lighting and LED Supply, with the acquisition expected to double the size of the company.
• The combined transaction value of the acquisitions would be ~$20M, with the consideration to be a combination of cash and restricted common and restricted preferred shares.
• AUVI shares were trading +31.73% pre-market on the news.
• The strategic acquisitions is expected to enable Applied UV to expand its distribution and sales capabilities and allow it to access and build upon PURO's existing commercial relationship with Acuity Brands ( NYSE: AYI ).
• The combined company is anticipated to generate ~$45M-$50M of revenues in FY23.
• Source: Press Release

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