Atlanta-based Acuity Brands has announced plans to separate its lighting business, Acuity Brands Lighting, from its specialty products business, known as Acuity Specialty Products Group. The spin-off is expected to be finalized Fall 2007, and the new independent company will be formally named in the near future; for the present it will be referred to as "Spinco".
Acuity Specialty Products brands comprise Zep/Zep Commercial and Selig Industries, manufacturers of industrial, institutional, and transportation maintenance and cleaning products, as well as Enforcer, a manufacturer of home and garden pesticide products. Acuity is separating the two businesses to enhance value for stockholders and allow the lighting business and specialty products business to pursue their own growth strategies, according to Dan Smith, vice president/treasurer for Acuity Brands.
Acuity also announced that John K. Morgan has succeeded William A. Holl as president and chief executive officer of Acuity Specialty Products. Holl will continue with the company as as executive vice president and chief commercial officer.