On June 30, 2017, Retro-Tech Systems (“RTS”) which includes RTS Lighting, RTS Water, RTS Utility Metering, and RTS Building Envelope, merged with LRI Energy Solutions (“LRI”). LRI Energy Solutions includes wholly owned subsidiaries Lighting Retrofit International, LLC, Water Savers, LLC and recently acquired Enlight Energy Efficient Lighting.
Both RTS and LRI enjoy established reputations as leaders in cost-effective, advanced, creative solutions for energy, water, building envelope, and metering – focused on energy service companies (“ESCOs”) supporting the Federal government, MUSH (municipalities, universities, schools, and hospitals), and utility providers. Both companies’ customers rely on the similar core competencies of design, engineering, project management, analysis, and market knowledge.
The combination presents several compelling market differentiators. First, we now offer substantially larger bonding capabilities, which supports both customers whose growth is focused on small and mid-sized projects as well as those ESCO customers whose growth is focused on larger projects. Second, we now operate with a hybrid resourcing model providing the flexibility of both in-sourced professionals and long-term installation partnerships. Finally, our combined purchasing power and vendor relationships bolster the company’s ability to provide even more value to its customers.
Stephen J. Troese, Jr., CEO of LRI stated, “RTS has distinguished itself for years by providing exceptional value to its customers. Together, we can now reach more customers with more savings solutions. We are delighted to welcome RTS into the family with this merger. “This is a great day our customers.” Kurt Minko, President of RTS, continued, “Our organizations have enjoyed tremendous mutual respect and admiration for several decades making RTS and LRI natural partners. With our team of professionals, we can deliver an enticing value proposition across the combined national footprint. We look forward to realizing our collective growth potential.”