---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-012474"
form_type: "8-K"
ticker: "LYTS"
cik: "0000763532"
company_name: "LSI INDUSTRIES INC"
filed_at: "2024-04-19T23:59:59+00:00"
generated_at: "2026-06-03T17:32:49.387220+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# LSI acquires EMI Industries for $50M all-cash; expands store fixtures and food service

## Summary
- EMI reported 2023 revenue of $87.0M and adjusted EBITDA of $5.5M; purchase price $50M.
- Transaction immediately accretive to LSI adjusted EPS; funded from cash and existing credit facility.
- Pro-forma net debt to trailing 12-month adjusted EBITDA expected ~1.3x; LSI plans to reduce leverage in 24 months.
- EMI brings 300+ employees, five U.S. facilities; leadership team retained; EMI to remain independent brand.
- Deal aligns with LSI's Fast Forward strategy targeting >60% sales growth by FY2028 with ~half from acquisitions.

## SEC filing metadata
- accession: 0001437749-24-012474
- form_type: 8-K
- ticker: LYTS
- cik: 0000763532
- company_name: LSI INDUSTRIES INC
- filed_at: 2024-04-19T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/763532/000143774924012474/0001437749-24-012474-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/763532/000143774924012474/lyts20240418_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-012474
- JSON: https://secwatch.observer/filing/0001437749-24-012474.json
- Plain text: https://secwatch.observer/filing/0001437749-24-012474.txt

## Key facts
- M&A Transactions
  LSI INDUSTRIES INC completed an acquisition involving EMI Industries, LLC (Seller) for $50 million (closed 2024-04-18).
  - Action: acquisition
  - Counterparty: EMI Industries, LLC (Seller)
  - Consideration: $50 million
  - Closing: 2024-04-18
  source text: Purchase Agreement (the “ Purchase Agreement ”) pursuant to which Seller agreed to sell substantially all of its assets to Purchaser for an aggregate cash purchase price of $50 million, subject to a working capital adjustment. Florida-based EMI is a metal and millwork manufacturer of standard and customized fixtures, displays and equipment for the convenience
  evidence_url: https://www.sec.gov/Archives/edgar/data/763532/000143774924012474/0001437749-24-012474-index.htm
- Material Agreements
  LSI INDUSTRIES INC entered into Asset Purchase Agreement with EMI Industries, LLC valued at $50 million (effective 2024-04-18).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: EMI Industries, LLC
  - Value: $50 million
  - Effective: 2024-04-18
  source text: On April 18, 2024, EMI Acquisition Company Inc., an Ohio corporation (“ Purchaser ”), and wholly owned subsidiary of LSI Industries Inc., an Ohio corporation (“ LSI ” or the “ Company ”), EMI Industries, LLC, a Florida limited liability company (“ EMI ” or “ Seller ”), LSI (with respect to Section 7.11’s Parent guaranty provisions) and certain members of Seller made parties thereto (the “ Majority Members ”) entered into an Asset Purchase Agreement (the “ Purchase Agreement ”) pursuant to which Seller agreed to sell substantially all of its assets to Purchaser for an aggregate cash purchase price of $50 million, subject to a working capital adjustment.
  evidence_url: https://www.sec.gov/Archives/edgar/data/763532/000143774924012474/0001437749-24-012474-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.