FGI Provides Cree Lighting with $40MM ABL and M&E Term Facility

“Having worked with FGI for over two years and seeing how they have supported ADLT, it was a natural step to approach them for financing the Cree Lighting transaction. They leveraged their existing knowledge of the sector and our operating model, developed an in-depth understanding of Cree Lighting, and structured a facility that suited the transaction.”

— Sabu Krishnan
CEO, Cree Lighting USA LLC

Cree Lighting USA LLC (“Cree Lighting”) is a global LED lighting manufacturer with demonstrated expertise in advanced optical control, color quality, intuitive controls, and product quality. Headquartered in Racine, WI with 6 global locations, Cree Lighting has a nearly 40-year history of turning innovation into industry-leading solutions.

In 2021, a group of investors sought out FGI to provide the acquisition financing and ongoing working capital of a new platform, Advanced Lighting Technologies (“ADLT”), a global manufacturer of energy efficient lighting materials and finished products through multiple subsidiaries including Venture Lighting. Two years later, the investors identified Cree Lighting as a complementary add-on to ADLT, as both companies provide innovative lighting solutions with a focus on sustainability. When exploring financing options, the team again reached out to FGI based on the strong relationship already in place from ADLT, the value of the partnership, and trust in FGI’s operations.

Flexible throughout the process, FGI continuously worked to maximize availability and ensure the transaction stayed on course, ultimately structuring a $40MM ABL and M&E term facility that enabled the purchase of Cree Lighting and provides working capital to support growth and continued innovation.