LifeStyle Innovations acquires LST of Baltimore

SSN Staff  - 
Thursday, June 10, 2004

June 10, 2004

GRAPEVINE, Texas - LifeStyle Innovations has acquired LST Baltimore, its Maryland-based LifeStyle franchise.
The transaction was the first in the company’s newly established business plan. LifeStyle has been looking to acquire existing franchises or companies in the home technology field in high-growth housing markets in an attempt to increase its market share.
The company has been moving towards these objectives since a reorganization in the beginning of 2004 that placed Paul Johnson, the company’s president, in the acting chief executive officer’s chair after it was vacated by Ron Pitcock. The company has also been recovering from a number of unsuccessful transactions - acquiring and then divesting FutureSmart, a structured-wiring manufacturer, and the failed acquisition of systems integrator HomeSync.
Johnson said in a prepared statement that the acquisition of LST Baltimore is the first step in executing the company’s plan to develop itself into a nationwide company.
Details of the transaction were not released.