LYTS News & Events

LSI Industries announced a strategic partnership with privately held Carter Thermal Industries Group, a global player in refrigeration and environmental controls solutions. Under the terms of the agreement, LSI will become the exclusive partner throughout the United States and Canada for advanced refrigerated display and store solutions developed by U.K.-based Carter, effective May 28, 2026. Under the Partnership, LSI will market, manufacture, sell, and support refrigeration systems designed by Carter. LSI intends to produce co-branded remote refrigeration units across its existing North American manufacturing footprint, providing scalable production capabilities, competitive manufacturing lead times, and enhanced flexibility to support customer rollout requirements. "Our strategic partnership with Carter provides LSI with an immediate, capital-light entry point into the remote refrigeration market, as we continue to build our integrated retail branding solutions platform across North America," stated Jim Clark, President and Chief Executive Officer of LSI Industries. "Carter's engineering expertise and proven technology, combined with LSI's manufacturing footprint, deep customer relationships, and proven support capabilities, position us to accelerate profitable growth across our integrated portfolio of refrigeration solutions. We look forward to building on this important partnership in the years ahead."

Reports Q3 revenue $150.525M vs $132.48M last year. "The sustained high level of customer project activity in key vertical markets enabled LSI to deliver solid third quarter performance," stated James A. Clark, President and CEO of LSI. "With the recently completed acquisition of Royston, LSI has built a unique marketing offering that provides a one-stop shop solutions-based approach to support the new build and remodel programs of leading retail companies across North America. During the quarter, our customers directed increased investment toward branding solutions that enhance the consumer experience, a key differentiator across the retail environments they serve, contributing to another consecutive quarter of profitable growth for our business."

Oppenheimer and Craig-Hallum acted as joint book running managers for the offering.

LSI intends to use the net proceeds from this proposed offering to implement its growth and acquisition strategy, including (i) payment of a portion of the purchase price for its proposed Royston Group acquisition pursuant to the Agreement and Plan of Merger, dated February 20, 2026, by and between LSI and Royston Group; (ii) repayment of borrowings under the proposed Senior Secured Credit Facility Commitment Letter, dated January 21, 2026, by and between LSI, PNC Capital Markets LLC, and PNC Bank, National Association, to be used to fund the purchase price of the Royston Group acquisition, which is expected to close in the third quarter of LSI's 2026 fiscal year; and/or (iii) for general working capital and corporate purposes. Oppenheimer & Co. and Craig-Hallum are acting as joint lead book-running managers for the proposed offering.