August 31, 2021
Fagerhult Group Now Owns 100% of Sistemalux
Product photo: iGuzzini Le Perroquet Projector LED
European lighting group continues to invest in its global architectural lighting portfolio.
In 2019, Swedish lighting company Fagerhult Group acquired iGuzzini for $422M. At the time, iGuzzini owned a 70% share of Montreal-based Sistemalux.
In what the company describes as “an effort to strengthen and further develop our presence on the North American market,” the Fagerhult Group has acquired the remaining 30% shares in Sistemalux Inc.
According to company reports, Fagerhult Group’s 2020 revenue was approximately $825M USD. In 2020 Sistemalux net sales were approximately $35M USD.
Fagerhult Group’s global lighting portfolio includes brands Designplan Lighting Ltd., LED Linear, WE-EF and iGuzzini. Besides offering architectural lighting solutions under their own brand, Sistemalux have been responsible for the introduction of the iGuzzini brand in the US and Canada.
“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 transaction closed on August 30, 2021.
(Sep 1 Update) Note: An earlier version of this article cited "Designplan" and not "Designplan Lighting Ltd". The Designplan company referenced in this article by name and by logo refers to the UK-based company Designplan Lighting Ltd.
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