A Tipp City energy-efficiency firm has sold an affiliate company to focus on its core business, company officials announced.
Energy Optimizers USA has sold its affiliate, Lighting Optimizers USA, to Eco Engineering of Sharonville, Ohio. Terms of the deal were not disclosed.
Officials said the transaction will ensure continued service to Energy Optimizers’ clients, while allowing the company to expand its core business of vendor-neutral energy efficiency projects for the educational, governmental, commercial and industrial markets.
Eco Engineering has acquired all assets of Lighting Optimizers, and will become the principal provider of lighting design and upgrade services to Energy Optimizers. nearly 100 percent of Lighting Optimizers’ workers were hired as full-time associates by Eco Engineering, officials said.
Officials said Energy Optimizers had more than $14 million in revenue in 2014, and seeks to reach $20 million in revenue by 2016.
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