Coleto Brands Announced as New Parent Company Name for Recently Merged Kichler and Progress Lighting

Both industry leading brands to continue in the market operating under Coleto Brands umbrella

GREENVILLE, S.C., Jan. 7, 2025 /PRNewswire/ -- The new parent company name for the recently merged Kichler and Progress Lighting organization has been unveiled: Coleto Brands. This new corporate name is the latest in a series of steps the new organization has been making to bring these two iconic lighting companies together after each was acquired by Kingswood Capital in 2024. While both brands will operate as part of the same corporation, each will continue as independent brands in the market, building upon deep rooted strengths to complement one another.

The Coleto Brands name was inspired by starling birds which come together to create mesmerizing patterns in the sky known as a murmuration. In a similar way, the brands within the Coleto Brands portfolio are distinct, yet move synchronously together to have a dynamic, positive impact on the lighting industry.

"Since the opportunity arose to bring these two formidable brands together, we've been excited about the combined impact we can have for our customers, trade professionals, end consumers and employees," said Sean Veit, Coleto Brands CEO. "Both brands have rich legacies, strong industry relationships, exceptional product portfolios and recognized commitment to customer service with highly complementary strengths that will enable us to deliver more compelling solutions to the market."

As part of the merger announced when the Kingswood Capital acquisition of Kichler Lighting closed in September 2024, the company has been working to align infrastructure and identify opportunities to streamline its operations to better support customers. A new Executive Leadership Team was the first step in this journey, bringing key leaders from both organizations together to define a consolidated path forward. After an extensive sales agency review, both brands will now be represented by a singular rep agency sales force with future capabilities to consolidate orders, invoices and shipments. Additionally, the Progress Lighting showroom in the Dallas Market Center has recently been refreshed, including the addition of a Kichler display area where a curated assortment of the brand's products will be installed for viewing during the January 2025 Lightovation industry tradeshow. The brands are also co-hosting a by-invitation-only customer event in Dallas during the show.

In reflecting on the advancements made since the merger announcement, Coleto Brands Executive Chairman Vijay Shankar said, "I've been so impressed with how the newly combined team has come together in such a short time to begin realizing the potential this merger offers. The swift yet thoughtful approach the leadership team has taken is a testament to the high caliber talent and customer-centric cultures that existed in each organization and that will form the backbone for the new Coleto Brands going forward."

Kingswood Capital Management acquired Progress Lighting in February 2024 from Hubbell Incorporated. Then in September 2024, they acquired Kichler Lighting from MASCO Corporation.

ABOUT COLETO BRANDS
Coleto Brands is a dynamic collective of brands united by a commitment to enhancing spaces through design and functionality. Headlined by its flagship brands, Kichler and Progress Lighting, Coleto Brands provides residential lighting fixtures across key categories, including interior and exterior decorative lighting, bath/vanity, architectural systems and downlights, ceiling fans and landscape. For more information, visit coletobrands.com.

ABOUT KICHLER
Kichler lighting strives to transform the home and workspace by developing fixtures that seamlessly combine style with purpose. With an extensive portfolio of leading products – including lighting, landscape and ceiling fans – and a commitment to providing services and project solutions, Kichler® is the brand homeowners and professionals know and trust since 1938. Kichler products are available at independent showrooms, Lowe's, The Home Depot, electrical and landscape distributors and online. For more information, visit www.kichler.com.

ABOUT PROGRESS LIGHTING
Progress Lighting is a leading source of residential decorative lighting solutions with thousands of fixture designs to meet the needs of any project. With more than a century of lighting technology, leadership and engineering, Progress Lighting offers high quality lighting products and solutions that deliver aesthetic appeal, stellar performance, easy installation and value to the residential new construction and renovation & remodel end markets. For more information, visit www.progresslighting.com.

ABOUT KINGSWOOD CAPITAL MANAGEMENT, LP
Kingswood Capital Management, LP is a private investment firm primarily focused on investing in businesses in transition. In addition to access to capital, Kingswood brings relevant industry relationships and a broad network of internal and external operating resources that can strengthen the businesses it partners with and enhance value. Kingswood has extensive experience with complex transactions where it provides tailored solutions that balance the objectives of all constituents. For more information, please refer to the Kingswood website at www.kingswood-capital.com.

SOURCE Coleto Brands