LSI Industries Expands Presence In High-Growth Sports Lighting Market

Rhea-AI Summary

LSI Industries (NASDAQ: LYTS) has partnered with USA Pickleball as its official lighting partner. This collaboration aims to capitalize on the growing popularity of pickleball, which currently has over 3.3 million players in the U.S. and around 33,000 courts needing lighting upgrades. Jim Clark, President and CEO, emphasized the partnership aligns with LSI's growth strategy, focusing on market expansion and enhanced service offerings for pickleball facilities. The partnership is expected to boost LSI’s marketing reach and service capabilities in the segment.

Positive

• Partnership with USA Pickleball enhances brand visibility in a rapidly growing market.
• Potential for significant demand due to the estimated 33,000 pickleball courts in the U.S. needing lighting upgrades.
• Strategic alignment with LSI's growth strategy focusing on vertical market expansion and customer-focused services.

Negative

• None.

Company Becomes Official Lighting Partner of USA Pickleball

CINCINNATI, Dec. 16, 2020 (GLOBE NEWSWIRE) -- LSI Industries (NASDAQ: LYTS), a leading U.S. based manufacturer of outdoor and indoor lighting and graphics solutions, said today that it has become the official lighting partner of USA Pickleball, the national governing body for the sport of pickleball in America. As a leading manufacturer of high-performance lighting solutions for sports and recreation facilities, LSI is well-positioned to serve the rapidly growing pickleball market.

“Our partnership with USA Pickleball further exemplifies our previously communicated growth strategy, which includes vertical market expansion, an additional focus on end-customers, expanding our existing services business and assessing inorganic growth opportunities,” said Jim Clark, President and CEO of LSI Industries.

Several factors, including population trends and an increasing focus on personal health and wellness, are contributing to the sport’s widespread growth and popularity – creating long-term demand for new pickleball facilities. Collaborating with USA Pickleball will expand LSI’s marketing reach and help the company promote its solution capabilities, including LED lighting fixtures with customized optics, poles, sensors and wireless control systems.   In addition, the company has an internal team of specialists with expertise in facilitating multi-site lighting projects from start to finish. When customers require one source to manage all of their pickleball lighting needs, LSI is the company that can assemble, and manage, every resource necessary to complete the project.

According to the Sports & Fitness Industry Association, there are more than 3.3. million pickleball players in the United States, making it one of the fastest-growing sports in America. In addition to new construction opportunities, it is estimated that there are approximately 33,000 pickleball courts in the United States – many of which require lighting upgrades. Whether it’s an outdoor club, park, residential court, tournament venue or indoor sporting complex, LSI’s pickleball lighting solutions are engineered to satisfy players, spectators, communities and environmental requirements.

About LSI Industries
Headquartered in Blue Ash, Ohio (Greater Cincinnati), LSI Industries is a leading producer of high-performance, American-made lighting solutions. The Company’s strength in outdoor lighting applications creates opportunities for it to introduce additional solutions to its valued customers. LSI’s indoor and outdoor products and services, including its digital and print graphics capabilities, are valued by architects, engineers, distributors and contractors for their quality, reliability and innovation.  The Company’s products are used extensively in automotive dealerships, petroleum stations, quick service restaurants, grocery stores and pharmacies, retail establishments, sports complexes, parking lots and garages, and commercial and industrial buildings.  LSI has approximately 1,100 employees at seven manufacturing plants in the United States, including its corporate headquarters.  Additional information about LSI is available at www.lsicorp.com.

Forward-Looking Statements
For details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, visit https://investors.lsicorp.com as well as our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q which contain risk factors. 

Investor Contact
Noel Ryan, IRC
(720) 778-2415
LYTS@vallumadvisors.com

Media Contact:
Mike Wallner
Senior Manager, Communications
(513) 372-3417
mike.wallner@lsi-industries.com

FAQ

What is LSI Industries' recent partnership announcement?

LSI Industries announced its partnership with USA Pickleball, becoming the official lighting partner.

How does the partnership with USA Pickleball benefit LSI Industries?

The partnership is expected to enhance LSI's marketing reach and promote its lighting solutions for pickleball facilities.

What market opportunity does LSI Industries see in the pickleball sector?

With over 3.3 million pickleball players and approximately 33,000 courts in the U.S., LSI Industries sees substantial demand for lighting upgrades.

What does LSI Industries specialize in?

LSI Industries specializes in high-performance lighting solutions for various applications, including sports and recreation facilities.