Richmond Capital Partners Acquires Smartlabs with $7.3 Million Investment

06.23.2017 | Jenna Taylor

Earlier this month, Communiqué PR had the opportunity to help Richmond Capital Partners announce the acquisition of Irvine, Calif.-based Smartlabs, which also included $7.3 million in funding for the internet of Things (IoT) company.

Smartlabs is the parent company of Insteon and Smarthome, and is the world’s leading authority on electronic home improvement and automation. According to a report published by Business Intelligence, by 2020 the U.S. residential market will have 193 million devices in connected homes with almost 50 percent of those devices in Smartlabs’ core electrical, lighting and sensor market. The global smart electrical control market is expected to grow to $10.8 billion over the next five years.

“There are two incredibly interesting IoT spaces in technology today—the car and the home,” said Rob Lilleness, who will assume the role of chairman and CEO for Smartlabs. “Over the next five to 10 years, it is inevitable that a large portion of electrical nodes in the home will be ‘smart’ and addressable via the internet. With Insteon’s patented dual-mesh technology that communicates both wirelessly and via the home’s own electrical wiring, Smartlabs has the most reliable and scalable technology for electrical control and communication, which is critical to meet consumers’ expectations.”

The Seattle-based investment firm turned to Communiqué PR to drive editorial coverage around the news. We worked closely with Richmond Capital Partners to provide counsel around the timing and strategy for the announcement, and then developed key messaging for its target audiences, and drafted the press release. Communiqué PR also developed an email pitch for targeted journalists to secure briefings with Richmond Capital Partners around the transaction, and conducted outreach to local and industry publications.

Below is a list of the coverage to date about the transaction:

  1. Seattle startup vet Rob Lilleness acquires Smartlabs, investing $7.3M in the home automation company – GeekWire, 6/13/17
  2. Irvine’s Smartlabs Acquired – Orange County Business Journal, 6/13/17
  3. Cash infusion could bring Smartlabs more recognition – Los Angeles Times, 6/13/17
  4. Serial Seattle tech exec buys 25-year-old Irvine IoT company – L.A. Biz, 6/13/17
  5. Seattle tech veteran buys first IoT company with new investment firm – Puget Sound Business Journal, 6/13/17
  6. Smartlabs to open Seattle office after it’s acquired by Richmond Capital – Seattle Times, 6/14/17
  7. Smartlabs Acquired By Richmond Capital Partners, Raises $7.3M – SoCal Tech, 6/14/17
  8. Internet of Things News of the Week, June 16, 2017 – Stacey on IoT, 6/16/17
  9. Insteon, Smartlabs Acquired; New CEO Wants to Make Powerline Great Again for Home Automation – CEPro, 6/19/17

We congratulate the teams at Richmond Capital Partners as well as Smartlabs, including Rob Lilleness, and look forward to their continued success in the fast-growing automation and IOT sectors!


Filed under: COMMUNIQUÉ PR

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