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Swedish lighting giants will acquire Italian architectural lighting company
Innolite
Innolite
2018-10-18 11:26:19
LED Filament light Bulbs manufacturer
Recently, Swedish lighting company Fagerhult will acquire iGuzzini, Italy's leading architectural lighting company.
It is reported that Fagerhult and iGuzzini shareholders signed a letter of intent to acquire 100% of the company's shares.
Fagerhult now has the right to conduct due diligence on the company and the goal is to sign a stock purchase agreement before Christmas.
The final determination of the transaction requires the approval of Fagerhult's board of directors and the approval of the European competition director. The funds for the transaction will be provided by the debt of the Fagerhult stock and the new allotment.
Upon completion of the transaction, the Guzzini family will receive a substantial portion of the Fagerhult share and become a shareholder of the combined company. iGuzzini President Adolfo Guzzini and CEO Andrea Sasso will also hold senior positions in the Fagerhult Senior Management team, in addition to their respective executive duties at iGuzzini.
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Fagerhult said that the acquisition of iGuzzini will greatly strengthen its position in the professional lighting market, both in terms of geographical location and in the addition of complementary product lines.
It is reported that iGuzzini was founded in 1959 and has high brand awareness. It mainly produces and manufactures indoor lighting and outdoor lighting products, and is headquartered in Italy. It is understood that the company initially considered issuing an IPO this year, but decided to sell it directly to another lighting company.