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Matrix Announces the Successful Recapitalization of Shades of Light, LLC

RICHMOND, VA / BALTIMORE, MD – March 17, 2020 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, is pleased to announce the recapitalization of Shades of Light, LLC (“Shades of Light” or the “Company”). Matrix assisted Shades of Light in raising capital for the purpose of a partial membership interest redemption of a significant owner of the Company.

Regarding Matrix’s services, Bryan Johnson, CEO of Shades of Light commented, “When we approached Matrix, we asked them to explore alternatives to create liquidity for a departing shareholder. Their marketing efforts generated attractive opportunities from a wide range of capital providers; however, we ultimately decided that a minority capital raise was the right solution and best achieved our objectives. The Matrix team was extremely professional throughout the process and did an excellent job managing a highly complex transaction.”

The transaction was managed by David Shoulders, Managing Director and Head of Matrix’s Consumer & Industrial Products Group; William O’Flaherty, Director; John Mosser, Senior Analyst; Matt Oldhouser, Senior Analyst; and Duncan Rogers, Analyst. Mr. Shoulders noted, “Matrix has enjoyed a strong and longstanding relationship with Shades of Light and we are pleased to have represented the ownership group in achieving their desired outcome. We are confident that the next chapter at the Company will be a successful one as they continue to deliver exceptional products to their many valued customers.”

Founded in 1986 as a small lighting store in Richmond, VA, Shades of Light has grown into an industry-leading multi-channel retailer of lighting and other home décor products. After 25 years in business, in 2011, founder Ashton Harrison sold the Company to Mr. Johnson and Chris Menasco. Since that time, the Company has struck exclusive licensing deals with major home décor blogs, expanded the Company’s physical footprint with a 115,000 square foot distribution and production facility, acquired in-house manufacturing capabilities, and re-platformed the Shades of Light website and internet presence. Today, Shades of Light is nationally recognized as the premier source of curated lighting and home décor products in a variety of styles.

Whiteford Taylor Preston LLP served as legal counsel for the Company in the transaction.