Elk Lighting CEO Bradford Smith says the acquisition will give lighting showrooms access to the furniture and accessories from the Sterling line, and will also be beneficial for Sterling.
“Sterling is a widely recognized name, especially in the furniture and accessories side of the business, and as a larger company, we can provide support in areas like marketing and product development to aggressively push the company to a higher level,” Smith says.
Customers will also benefit from this union, Smith says, as they will be able to do business with a whole-home solutions company instead of dealing with a lot of different vendors.
Sterling Industries, which specializes in decorative accessories, portable lighting and accent furniture, will continue to operate showrooms at AmericasMart in Atlanta, the World Trade Center in Dallas and its newly relocated space in the International Home Furnishings Center in High Point.
Elk Lighting also purchased Baldinger Lighting earlier this year, and Smith says that while he doesn’t have any current plans for additional acquisitions, he is always looking for new opportunities that allow Elk to expand its offerings.
Smith says the end result of these acquisitions is the future of what a company in this industry should look like – a company that gives customers a wide range of options.
“It’s extremely important for companies to branch out beyond their core business because we’re in a tough economy,” Smith says. “Being able to offer a wide variety of products really helps a company refresh their offerings and their showrooms.”