LSI Industries agreed to acquire 100% of Royston Group from Industrial Opportunity Partners. The transaction is financed through a fully committed bridge facility, with permanent financing expected to include a mix of equity and debt, subject to Hart-Scott-Rodino antitrust clearance. The acquisition is highly strategic for LSI, combining Royston's complementary capabilities and long-standing customer relationships with LSI's existing retail branding solutions platform, creating the leading integrated retail branding and display solutions provider in North America. IOP had acquired Royston from Stephens Capital Partners in March 2018 and grew the business through four bolt-on acquisitions during its ownership period.

ROYSTON GROUP, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the average currently observed in the Industry & Manufacturing sector (10.9x).

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