Applied UV, Inc. AUVI announced that it has completed its previously announced mergers with Puro Lighting, LLC (“PURO”) and LED Supply Co. (“LED Supply”).
The PURO merger further positions the Company to address a growing air disinfection market trend that aligns with the White House “Clean Air Initiatives” implemented during the height of the COVID-19 Pandemic designed to protect consumers and businesses against existing and future airborne pathogens allowing economies globally to remain open.
The merged entities have proven applications that can now be included in improving indoor air quality (IAQ) at the facility level, including HVAC systems in public, government, municipal, retail spaces and buildings. The PURO merger positions Applied UV to be one of the only companies in the world to offer a complete air and surface disinfection platform that includes consumer, fixed and mobile and commercial applications that are research-backed, clinically tested and, that are used by global Fortune 100 end users in multiple verticals.
“There are great synergies between current Applied UV companies and PURO Lighting,” said Max Munn, CEO of Applied UV, Inc. “We each have deep strengths in various categories and industries, and now we have complementary category expertise where our portfolio of products can serve a much broader market. Importantly, these mergers expand our addressable market significantly, and PURO’s strong, strategic relationship with Acuity and national distributors provides us with additional opportunities to advance our growth agenda and increase returns for our investors.”
Furthermore, the PURO “IAQ” HVAC monitoring software allows Applied UV to incorporate this application into its entire next-generation air and surface disinfection platforms allowing the company to “cross the bridge” into the Internet of Things (IoT). By connecting its devices, this will enable facilities to fully monitor indoor air quality, further differentiating the company from its competition.
In addition, the mergers will allow Applied UV to access and build upon PURO’s existing strong commercial relationship with Acuity Brands, Inc. (“Acuity”), as well as its distributor network, which includes Grainger Inc., further positioning the company for significant growth.
Munn continued, “We have an aligned vision for the future, and every person at the new Applied UV is focused on how to express our story in terms of customer value, customer service, customer solutions, technology innovations and product advances.”
Combining the companies creates one of the broadest portfolios of patented air disinfection and purification technologies capable of addressing every major commercial market, including hospitals and assisted living facilities, schools, government and military buildings, prison systems, hotels, commercial buildings and food transportation and storage to extend the shelf life of agricultural products, including cannabis.
The value of mergers goes beyond having new categories and successful brands to offer the marketplace. Applied UV will now have a larger team to collaborate on sales and marketing strategies, new product development, engineering and potentially new acquisitions that could lead to revenue growth for investors and value for customers.
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