IDEAL INDUSTRIES, INC. acquires Cree Lighting for $310M
Locally owned-operated in Sycamore IL for over 100 years, manufacturing giant, innovative electrical firm and founding member of DCEDC, IDEAL INDUSTRIES, INC., has announced its most recent acquisition: Durham, North Carolina, and Racine, Wisconsin-based Cree Lighting, an ancillary company of Cree Inc., for $310 million, on March 15th.
This marked another page in the books for IDEAL’s holding companies. Including Cree, the company now has 20 branded operating units under the IDEAL flag. With strong ties to the electrical industry, the firm also has operations in construction, aerospace and automotive industries. Jim James, chairman and chief executive officer of IDEAL INDUSTRIES, INC, believes that the global commercial lighting market is nearing a transformational phase.
With Cree Lighting, whose products are found in electric vehicles, fast-charging inverters, power supplies, and telecom, military and aerospace devices, IDEAL INDUSTRIES will be actively working on solutions that are smart, sustainable and human for building owners, architects and engineers.
IDEAL’S acquisition is another example of the high degree of innovation that takes place by our DeKalb County businesses.
Congratulations, IDEAL INDUSTRIES, INC!