ForceField Energy Inc. (Nasdaq: FNRG) has closed a $5 million deal for American Lighting & Distribution.
San Diego-based American Lighting specializes in energy-efficient commercial lighting. The company has provided lighting to San Diego's Qualcomm Stadium, hotels and resorts, and large shopping malls.
The purchase price is comprised of $2.5 million in cash, $1.5 million in common stock and $1 million in senior-secured notes. American Lighting shareholders could also receive $2 million in payments depending on revenue.
ForceField, headquartered in New York, distributes commercial LED and other energy products. The company expects the acquisition to drive revenue. American Lighting had about $7 million in revenue for 2013. In another LED deal, Chemtura Corp. (NYSE: CHMT), in May, bought the rest of LED chemical company DayStar Materials LLC.