Fagerhult acquires Designplan Lighting Ltd
Designplan has 180 employees and manufactures lighting fixtures primarily for environments where weather and vandal resistant lighting is needed e.g. prisons and transportation. The company has sales turnover of approximately MGBP 11 with profitability well in line with Fagerhult Group’s average.
“Our strategy is to become a clear leader in the European lighting industry. With the acquisition of Designplan we will further strengthen our position in the important UK market. Designplan is a significant UK manufacturer and has a well recognized leadership position. Designplan’s product range and capabilities are a perfect fit to Fagerhult’s existing product portfolio and will allow us to expand Designplan sales internationally”, comments Paul Barton, Fagerhult’s Region Director for the UK, Ireland and the Middle East.
Fagerhult pays a price of MGBP 10, on a cash and debt free basis, for 100 % of the shares in Designplan with an additional possible consideration of maximum MGBP 2.
More information on Designplan is available at www.designplan.co.uk.
Habo March 11, 2011