LMPG Inc. stops plans to go public
by CM Staff
The manufacturer has decided to focus on organic growth in its current markets instead, opting out of an acquisition-based strategy.
MONTRÉAL — On June 11, LMPG Inc., an industrial technology company with a core focus on specification-grade LED lighting solutions, decided that it would not pursue its recently announced IPO, citing non-optimal current market conditions.
The IPO was launched in the context of accelerating the company’s acquisition strategy which was designed to seize growth opportunities in its sector post the COVID-19 pandemic.
With this pause in its IPO, the company will focus on the ongoing execution of its strategic plan and build on its organic growth in its current markets.
“LMPG has enjoyed tremendous success in delivering on operational excellence despite a challenging 2020,” said François-Xavier Souvay, Founder, President and CEO of LMPG Inc. “We are well positioned to seize on the secular industry tailwinds that will continue to drive growth in our business. Our ongoing investments in new products and technologies are key to capturing growing opportunities in smart cities, buildings and infrastructure projects.”
The company will revisit its IPO strategy when market conditions will be less volatile.