Business Wire·Mar 24, 2026, 4:30 PM ET

LSI Industries Completes Acquisition of Royston Group

LSI Industries completed the acquisition of Royston Group from Industrial Opportunity Partners for an aggregate purchase price of $325 million.
The purchase consideration consisted of $320 million in cash & $5 million in LSI common stock, funded via debt & proceeds from a public offering on March 2, 2026.
Royston is an Atlanta-based provider of custom store fixtures, signage, & display cases with five U.S. facilities & a workforce of over 900 employees.
Royston reported $272 million in revenue & $38 million in adjusted EBITDA (14% margin) on a trailing twelve-month basis ended September 30, 2025.
Royston's financial results will be included in LSI's Display Solutions segment starting in the fiscal 2026 third quarter, covering approximately six days of contribution.
The acquisition creates an integrated platform combining lighting, fixtures, signage, & display case capabilities to serve retail new build & remodel programs.
LSI's CEO stated the deal supports the "Fast Forward" strategy to drive growth, operating leverage, & capital allocation toward high-return investments.
Combined LSI & Royston net sales for the twelve months ended September 30, 2025, totaled $864.4 million with combined adjusted EBITDA of $95.3 million.