K2 Inc. announced an agreement to sell certain light pole assets to the Genlyte Thomas Group LLC. The $19 million cash sale, which is expected to be completed during the second calendar quarter, includes K2’s decorative, commercial and utility light poles, transmission and distribution poles, crossarms, and certain other composite operations located in Newberry, South Carolina and Largo, Florida.
K2 Chief Executive Richard J. Heckmann said, “This transaction is consistent with our continuing efforts to strengthen K2’s balance sheet, to focus on our core products and markets, and to increase our financial flexibility to grow our business.”
