Saratoga Partners acquired the xenon cinema business from Philips Lighting. The business, to be named Lighting Technologies International (LTI), is a manufacturer of xenon arc lamps for digital cinema projectors used in the worldwide cinema exhibition industry.

G.C. Andersen Partners, through its wholly-owned broker-dealer G.C. Andersen Partners Capital, acted as exclusive financial advisor and placement agent to Saratoga and raised the debt financing to complete the transaction. Financing was provided by PNC Bank and Graycliff Partners.

Baldwin Park, CA-based LTI was established in 1999 and has captured a significant share of the global cinema xenon lamp market. Acquired by Philips in 2007, this transaction returns LTI to its independent, entrepreneurial roots.

New York-based Saratoga Partners is a manager of equity and debt-focused investment funds.

G.C. Andersen Partners is an investment banking partnership that advises both private and publicly-held clients and has been an active advisor to companies seeking advice related to capital raising, merger and acquisition and corporate restructuring transactions.