LSI Industries Acquires
Royston Group

On February 25, 2026, LSI announced a transformative step forward with its agreement to acquire Royston Group for $325 million. This strategic move significantly expands LSI’s capabilities in retail branding solutions, bringing together complementary strengths in store fixtures, signage, and display systems to create a scaled, integrated platform across North America. Building on the momentum of LSI’s Fast Forward strategy, the acquisition accelerates growth in high-value vertical markets and positions the company to surpass its long-term revenue targets ahead of schedule, reinforcing LSI’s role as a leading partner for major retail brands.

Our acquisition of Royston represents a transformational expansion of LSI’s unique-to-market integrated retail solutions platform. Royston brings strong capabilities across store fixtures, signage, and refrigerated display solutions, along with deep customer relationships across several of our highest-growth verticals, including refueling, grocery, and quick-service restaurants. We are excited to welcome Royston’s more than 900 employees to the LSI team as we continue to scale our platform capabilities for customers while driving long-term value creation for our shareholders.

– James A. Clark, LSI Industries President and Chief Executive Officer.

Royston Group is a leading provider of retail fixtures, branding elements, and custom store environment solutions. From design and engineering to manufacturing and installation, Royston delivers built-to-order solutions that span the full project lifecycle.

LSI’s focus remains on delivering above-market growth in both new and existing vertical markets, driving operating leverage through scale and efficiency gains, and prioritizing capital allocation toward high-return organic and inorganic investments.

– James A. Clark, LSI Industries President and Chief Executive Officer

About Royston Group

Royston Group is a leading provider of integrated retail branding and equipment solutions, specializing in the design, engineering, manufacturing, and installation of custom store fixtures, signage, and temperature-controlled display systems. Headquartered in Atlanta, Georgia, the company operates multiple manufacturing facilities across the United States and serves customers throughout North America in key vertical markets including convenience retail, grocery, and quick service restaurants. With a vertically integrated, build-to-order model and a portfolio of industry-leading brands, Royston delivers turnkey solutions that support the full lifecycle of retail environments.

About LSI

LSI Industries Inc. (NASDAQ: LYTS) was founded in 1976 as a manufacturer of lighting solutions for the petroleum industry and has since evolved into a leading provider of integrated lighting and display solutions. Headquartered in Cincinnati, Ohio, LSI serves key vertical markets including grocery & retail, refueling & C-store, quick service restaurants, automotive, warehouse, parking, and sports venues. Through continued innovation and strategic acquisitions—including JSI Store Fixtures (2021), EMI Industries (2024), and Canada’s Best Store Fixtures (2025)—LSI has expanded its capabilities in refrigeration, custom millwork and metalwork, and turnkey fixture solutions. Today, LSI delivers comprehensive, end-to-end solutions that combine lighting, graphics, and display systems to enhance and support modern retail environments.

LSI currently has more than 2,000 employees across its operations in the United States and Canada, and further expands its footprint, capabilities, and geographic reach with the addition of Royston Group.

The addition of Royston Group enhances LSI’s ability to deliver fully integrated, end-to-end solutions across key retail verticals, strengthening its position as a single-source partner for complex, multi-site environments.