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Press Release | 30 Aug, 2021 | 18:21 | Regulatory

To strengthen our presence on the North American market, the Fagerhult Group acquires the remaining shares in Sistemalux

Sistemalux is based in Montreal, Canada, and have a long-lasting business relationship with iGuzzini. Besides offering premium lighting solutions under their own brand, Sistemalux have been responsible for the successful introduction of the iGuzzini brand in the US and Canada. In 2020 the net sales was approximately 300 MSEK. In 2018, iGuzzini acquired 70% of the shares in Sistemalux and now we acquire the remaining 30%.

‘We are looking forward to continue our journey in North America, a lighting market of similar size as the European market. Full ownership of Sistemalux allows us to further invest and build our presence on the North American market. This is a key strategic growth opportunity for us, and I am very happy to welcome all colleagues fully to Fagerhult Group’, says Bodil Sonesson, CEO Fagerhult Group.

The process was completed August 30, 2021.