Kingswood Capital Management, an investment company, agreed to acquire the Residential Lighting business of Hubbell, a manufacturer of utility and electrical solutions, for $131m. "This transaction reflects our ongoing strategy to create a focused portfolio with attractive growth and margin characteristics. Hubbell’s portfolio is strategically aligned around grid modernization and electrification megatrends, and our leading positions across the energy infrastructure will enable us to continue effectively serving utility and electrical customers in front of and behind the meter. I would like to thank our Residential Lighting colleagues for their many contributions to Hubbell," Gerben Bakker, Chairman, President and CEO.