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The company has identified apparent errors in its previously filed financial statements for 2015-17 and for the first two quarters of 2018.
"We have reluctantly come to the conclusion that now is not the right time for us to pursue such a going private transaction,” the group led by Robert LaPenta wrote to the Stamford firm’s board of directors.
The company is on pace to be worth $200 million by year’s end, says Chairman, CEO and President Robert V. LaPenta.
Second-quarter revenues were up slightly from the second quarter of 2016.
Recent contract wins include projects with the U.S. Army, Air Force and the Department of Defense and Marine Corps facilities.
Revolution Lighting of Stamford has won more than $28 million in public education work since the start of 2016 in the Northeast and Florida.
The program is designed to help commercial and industrial customers save money by identifying and offering cost-effective, energy-efficient turnkey solutions.
The program is designed to help small businesses save money in part by identifying and offering cost-effective energy efficiency turnkey solutions.