Business | Company News | Acquisition | Oct 18, 2018

Fagerhult Signs a Letter of Intent to Acquire iGuzzini

AB Fagerhult (publ) (“Fagerhult”) has signed a Letter of Intent (LOI) with the shareholders of iGuzzini illuminazione S.p.A (“iGuzzini”) to acquire 100% of the shares of iGuzzini.

Based on this LOI, Fagerhult has exclusivity to conduct a customary due diligence and is targeting signing a Share Purchase Agreement before the end of 2018. The finalising of the transaction will be subject to Fagerhult board approval and any anti-competition approvals that may be required. The transaction will be funded from a combination of debt finance and a new rights issue in Fagerhult shares.

Upon finalising the transaction, the Sellers (the Guzzini family through the legal entity Fimag S.p.A and Tipo TIP – PreIPO S.p.A) will receive a significant portion of the consideration in Fagerhult shares with the aim of becoming shareholders of the combined entity. Adolfo Guzzini (President of iGuzzini) and Andrea Sasso (CEO of iGuzzini) - in addition to remaining in their respective executive roles within iGuzzini - will assume important roles in the top management of Fagerhult.

The addition of iGuzzini will significantly strengthen the Fagerhult Group’s position in the professional lighting market both in terms of the geographic presence and by adding leading complementary product ranges. iGuzzini is a very well-known and respected professional lighting brand with a high brand awareness particularly amongst specifiers. The company designs, manufactures and markets professional lighting solutions for both the indoor and outdoor application areas. Founded in 1959 the company is based in Recanati, Italy. In the financial year ending December 2017, the company had 1,300 employees, and sales of approximately 230 MEUR.

More information on iGuzzini is available at www.iguzzini.com

FEATURED

A New Fixing Technology for Optics Brings Additional Time Savings in Luminaire Assembly

A New Fixing Technology for Optics Brings Additional Time Savings in Luminaire Assembly Today it is often the fixing technology which decides how efficiently an LED luminaire can be produced. Innovative assembly procedures help in production by simplifying and shortening processes or eliminating them completely. Just a few minutes are often enough to make a manufacturer more ... Read more »

EDITORIAL

High Conductive Foils Enabling Large Area Lighting

High Conductive Foils Enabling Large Area Lighting Fraunhofer Institute for Organic Electronics, Electron Beam and Plasma Technology FEP as one of the leading partners for research and development for surface technologies and organic electronics and Sefar AG, a leading manufacturer of precision fabrics from monofilaments, developed a roll-to-roll ... Read more »

page_peel