Energy Focus, Inc, To Acquire Stones River Companies

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09:33:28 am on September 29, 2009

Energy Focus, Inc just announced that they have signed a letter of intent to purchase Stones River Companies. The purchase of the Nashville, Tennessee-based company will give them access to  the $100 billion market in the public sector for energy-efficient lighting.  The deal is expected to be complete within the next 90 days.

In a press release, Joseph Kaveski, Energy Focus’ CEO, explained how the purchase will benefit both companies:

“SRC’s business is based primarily on retrofitting existing public sector buildings with energy efficiency lighting, which is a significant benefactor of stimulus funding. By joining our forces, we expect to see dramatic growth in our energy services solutions business.” Mr. Kaveski continued, “The combination of Energy Focus’ energy efficient technology added to SRC’s established sales and delivery capability offers a value added package that no other lighting energy services company provides in our targeted markets.”

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