SHELTON, CONN.— Hubbell Incorporated (NYSE: HUBB) today announced it has completed the sale of Progress Lighting (its Residential Lighting business) to Kingswood Capital Management, LP. The business sells indoor and outdoor lighting solutions to the residential market.
Hubbell Incorporated sold the business for a cash purchase price of $131 million, subject to customary adjustments. The business sells indoor and outdoor lighting solutions and was expected to generate approximately $190 million in sales in 2023.
Tagged with Hubbell Lighting, lightED, Progress Lighting