At what enterprise value was ROYSTON GROUP acquired in 2026?

During the acquisition of ROYSTON GROUP by LSI INDUSTRIES in 2026, the transaction's Enterprise Value is estimated to be in the range of 300M - 700M USD.

What was the EV/EBITDA of ROYSTON GROUP when it was acquired by LSI INDUSTRIES?

The estimated EV/EBITDA multiple for ROYSTON GROUP is in the range of 5x - 12x.

When was ROYSTON GROUP acquired by LSI INDUSTRIES?

ROYSTON GROUP was acquired by LSI INDUSTRIES in 2026.

What was the revenue of ROYSTON GROUP at the time of the deal?

The revenue of ROYSTON GROUP at the time of the deal is estimated to be in the range of 250M - 500M USD.

What was the EBITDA of ROYSTON GROUP during the acquisition?

ROYSTON GROUP's EBITDA is estimated to be in the range of 25M - 50M USD.

How is the data for the ROYSTON GROUP acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the ROYSTON GROUP deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://peprofessional.com/2026/03/iop-sells-royston-group-to-lsi-industries-at-8-6x/

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Home Database Industry & ManufacturingROYSTON GROUP

03/2026

ROYSTON GROUP acquired by LSI INDUSTRIES

UNITED STATES Industrial Equipment / Commercial & Retail Equipment EV 300M - 700M USD

Context

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 in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Industry & Manufacturing sector (11.6x).

-> Deep-dive in Industry & Manufacturing market trends

Target

Royston Group is a US-based designer and manufacturer of custom store fixtures, branded signage, and temperature-controlled display cases for retail environments, operating through three brands: Royston (interior casework and merchandisers), SignResource (exterior fuel canopy and storefront signage), and Southern CaseArts (refrigerated and heated food displays). The company's build-to-order model integrates the full value chain from design and engineering through metal and millwork fabrication, assembly, and installation, supporting convenience store remodels, grocery resets, and quick-service restaurant rollouts. Approximately 70% of revenues are derived from remodel activity tied to recurring retailer capital expenditure programmes, providing strong revenue visibility and resilience.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (USD)

Year

Rev

EBITDA

EBIT

2025

2024

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REFERENCES

Valuation range: EV 300M - 700M USD

Revenue range: 250M - 500M USD

EBITDA range: 25M - 50M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ROYSTON GROUP by LSI INDUSTRIES are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: royston group