Wedgewood Partners – Acuity Brands: An Attractive Multi-Year Growth Trajectory


  • Acuity Brands is able to generate superior profitability because of its manufacturing scale and vertical integration.
  • As the need for electronics components has skyrocketed, Acuity’s scale and vertical integration AYI maintain high service levels while expanding gross margins to multiyear highs.
  • We expect management will continue to be aggressive with repurchase activity.

Acuity Brands (<span class='ticker-hover-wrapper lazyload'>NYSE:<a href='' title='Acuity Brands, Inc.'>AYI</a></span>) Circular maze or labyrinth with light bulb in its center. Puzzle, riddle, intelligence, thinking, solution, IQ concepts. 3d render illustration.

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The following segment was excerpted from this fund letter.

Acuity Brands

Acuity Brands (AYI) is the largest manufacturer and distributor of lighting solutions in North America. The Company is able to generate superior profitability

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