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Press Release | 21 Oct, 2015 | 12:33 | Regulatory

Fagerhult completes Lighting Innovations acquisition in South Africa

The three companies have 210 employees and manufacture lighting fixtures and solutions primarily for the indoor commercial sector. Typical application areas include commercial offices, retail, hospitals and educational buildings. In the year ending June 2015, the companies had a combined sales of approximately 13 MEUR.

“One key element of our strategy is to increase our market position in emerging markets. With this acquisition we gain access to the South African market and several interesting growth opportunities within the dynamic Sub Saharan Africa region. I am also very pleased that Mr. Craig Waddell will remain with the company in the position of Managing Director and continue to build on the strong platform that he and especially his father, Mr. Bruce Waddell, has established since founding the company”, comments Johan Hjertonsson, CEO Fagerhult.

Fagerhult pays MEUR 7,7 on a cash and debt free basis, for the assets of the three companies. An additional earnout can be paid until 2018 tied to the company performance. The transaction is financed with new credit facilities.

More information on Lighting Innovations is available at

Habo October 21, 2015