MONTREAL, Québec, Canada – Ascot Capital Group, the parent company of Standard Products and Stanpro Lighting Systems, will be merging the two businesses, creating one of the largest lighting companies in Canada.
The combined business will be 100% Canadian owned and managed, and will be one of the largest lighting companies in Canada, employing close to 400 people. The newly consolidated company will have design, engineering and manufacturing capabilities in Canada. It will have extensive business development capabilities at Specification, Contractor and End-user levels, with core strengths in construction projects, retrofit, and national accounts.
Combining the two businesses will be a major effort as the new entity plans to go live as a combined business in the fourth quarter of 2019. However, between now and go-live, both Standard and Stanpro sales teams will be offering their combined product ranges, which include LED lamps and LED fixtures, in the following major lighting categories: industrial, commercial, and architectural, decorative (commercial and residential applications), emergency, and explosion-proof, as well as temporary, harsh location, and accent (tapes, strings, pucks, under cabinet, etc.). The company will also offer traditional fixtures, lamps, ballasts, and drivers.
“Strategically, this merger will allow us to utilize both companies’ strengths and capture synergies that will allow the combined entity to increase its value proposition and to invest and grow at an accelerated pace,” said David Nathaniel, CEO.
While Canada is its major market, Standard began operations in the U.S. in late 2018, with its head office and distribution center located outside Chicago. This merger will fortify Standard’s offering and capabilities, and it will facilitate the company’s efforts to build a solid base in the U.S.
In terms of management, David Nathaniel will be the CEO of the combined businesses, while Sam Rimoin will act as President, and Rob Nadler will become Executive Vice-President. Sam and Rob currently assume these roles at Stanpro. They have done an exceptional job building Stanpro over the past 18 years and have both the experience and capabilities to take the new business successfully into the future.
“I’m very excited for the opportunity to lead this merger forward. With the combination of the resources of Standard and Stanpro along with the two product offerings, the sky is the limit”, said Sam Rimoin, President.
Ascot Capital Group, the parent company of Standard Products and Stanpro Lighting Systems, will be merging the two businesses, creating one of the largest lighting companies in Canada.