Walnut Creek, California (PRWEB) July 05, 2016
YDesign Group, LLC (YDesign Group), today announced a definitive agreement to acquire Lumens, LLC (Lumens), a leading multi-channel retail brand in lighting, modern furniture and home accessories. The Lumens brand will join YLighting, YLiving, and YBath in the YDesign Group portfolio.
Retail leaders with a combined 25-plus years in online commerce, the combination of YDesign Group and Lumens creates new retail leadership in the design-driven lighting, modern furniture, home accessories, and decorative plumbing retail vertical. YDesign Group now has an unparalleled product catalog of over 500 partner brands, a customer base of more than 400,000 trade professional, residential, and commercial customers, and boasts an annual revenue growth rate of more than 24% since 2012.
“We are thrilled to be adding Lumens to our portfolio of brands. This acquisition cements our leadership position and more importantly enables us to provide an unparalleled experience to our customers,” said Sean Callahan, YDesign Group’s CEO. “We have a shared commitment to bringing good design into peoples’ daily lives. Together we can leverage our complementary strengths to deliver a compelling experience to our design-minded consumer, interior design and commercial customers.”
Residential homeowners, architects, interior designers, decorators, contractors, and distributors look to both firms for a combination of superior products, advice, inspiration, project design and services.
“Lumens’ team is excited to team up with YDesign Group to continue to bring the very best in modern design to our customers,” stated Ken Plumlee, Cofounder and CEO of Lumens. “We’ve always known YDesign Group to share our passion for great design, and we see an immediate opportunity between the two teams. Combined, there is no better online shopping experience for residential, trade, commercial, and retail showroom customers, particularly for decorative lighting.”
A summary of the expected benefits of the acquisition include:
Competitiveness: Both companies’ customer segments include affluent, design-minded customers that are furnishing multiple properties. Combined, the two entities can service this important residential segment, with a combined product catalog of 200,000-plus SKUs. Both companies strength to the Trade is uncontested for modern, decorative lighting.
Marketing insight and reach: Employing a multi-channel marketing strategy across websites, sales team, catalog, and retail, the combined entity’s expertise in measuring marketing investment across channels will allow it to more efficiently and effectively respond to customer and manufacturer partner needs.
Best-in-class user experience: The combined entity can offer shopping experiences not available on other modern lighting, bath, furniture and accessory websites, and are complimented with unique content tailored to the customer bases’ design needs.
Unparalleled customer support: Both companies employ American Lighting Association experts that assist all customers with both technical and design-minded questions. The combined ability of these teams to provide superior service will be uncontested in the lighting, modern furniture and home accessory markets.
About YDesign Group:
YDesign Group is an online-led retailer offering the best in modern and contemporary lighting, furnishings, and decorative plumbing to design driven consumers and trade professionals. Our extensive, yet carefully curated selection ranges from iconic mid-century designs to today’s most innovative products.
Founded in 2001, YDesign Group’s YLighting is the leading design-driven modern and contemporary lighting retailer in North America, offering more than 15,000 of the top domestic and international product designs. YDesign Group is also a leader in modern furniture, home accessories and decorative plumbing via its YLiving and YBath brands. YDesign Group brands serve design savvy consumers and trade professionals through its websites, sales team, and catalog.
Since 2008, YDG has been owned by Alpine Investors, a values-driven private equity firm with a mission to build enduring companies by working with, learning from and developing exceptional people. Alpine specializes in lower middle-market companies in the software, online and business services industries. The firm has raised over $900 million of committed capital and has invested in 52 companies since inception in 2001.
Lumens was founded in 2004 with a goal in mind: to be the best place to shop for lighting, fans, modern furniture and accessories for people who love modern design. Cofounded by Ken Plumlee and Peter Weight, Lumens team is comprised of 113 lighting and design enthusiasts servicing residential, trade professional, retail showroom, and commercial customers. Its team of product specialists is certified by the American Lighting Association and is based in Sacramento, CA. Online, Lumens can be found at Lumens.com.
Pacific Crest Securities, a division of Keybanc Capital Markets Inc., served as financial advisor to Lumens.