June 9, 2023
Insights into LMPG's Acquisition Spree
The new Vode CEO, the M&A buying spree and other strategic pursuits
LMPG Inc. (formerly Lumenpulse Group) has acquired California-based architectural brand Vode Lighting, making it the fourth lighting company acquisition by LMPG in the past two years. As part of the acquisition, Ann Schiffers has been appointed as the new CEO of Vode. The co-founders of Vode, Tom Wharton, Scott Yu, and George Mieling, will assume strategic executive roles within the company.
The Acquisition Summary
LMPG has expanded its portfolio with the acquisition of California-based Vode Lighting, further solidifying its presence in the architectural lighting space. This marks the company's fourth acquisition in the past two years for the Quebec company.
Vode’s New CEO
Ann Schiffers has been appointed as the new CEO of Vode Lighting. Schiffers brings extensive experience and leadership to her new role. Schiffers has a unique business background that includes experience in architectural lighting design as well as executive roles with well-known architectural lighting brands, notably USAI and Flos North America.
Next Steps for Co-Founders
Tom Warton, Scott Yu, and George Mieling, the co-founders of Vode, will transition into strategic executive roles within the company. They will provide support to CEO Ann Schiffers and contribute to various creative and strategic aspects of LMPG's global business. The new roles have Warton as Brand Ambassador, Yu as Chief Creative Officer and Mieling as Business Development Advisor.
Exclusive interview with François-Xavier Souvay, LMPG Founder, President and CEO
In the interview above, we catch up with François-Xavier Souvay and explore the following:
- What’s the mood in the LMPG office today? (0:55)
- Why did LMPG acquire Vode? (1:40)
- The LMPG acquisition spree – what is the end game? (2:42)
- New Vode CEO, Ann Schiffers. Vode Co-Founders. (5:05)
- How LMPG is better equipped to serve architectural design community and global projects (7:04)
- Will we see consolidation among LMPG’s nine lighting brands? (9:31)
- Are there any other acquisitions FX wants to announce right now? (12:04)
LMPG's Nine Architectural Brands
LMPG’s expansion has accelerated over the past ten years. Along the way the company went public in 2014 with an IPO on the Toronto Stock Exchange. Three short years later, Souvay – along with other investors took the company private. The continued growth and bolstering of resources has led to the company expanding into nine architectural brands through organinc growth and M&A activity.
Why Vode was Valuable to LMPG:
LMPG recognized the value of Vode Lighting due to its strong architectural lighting pedigree and commitment to minimalistic design. The acquisition aligns well with LMPG's global strategy and enhances the company's portfolio of brands.
Is LMPG's Buying Spree Going to Continue?
Souvay told us that LMPG will be pausing its acquisition activities for now. The company's focus will be on nurturing and empowering the nine brands within its portfolio, allowing them to grow, innovate, and challenge the market.
International Business Pursuits
LMPG sees the architectural market as a worldwide reality, with architects and lighting designers increasingly engaged in international projects. The company aims to be the preferred partner for lighting designers and architectural firms operating in global markets. Brands like Vode and Fluxwerx already possess an international DNA, and LMPG plans to invest in scaling these brands and expanding their global reach.
LMPG's acquisition of Vode Lighting adds another significant brand to its portfolio. The appointment of Ann Schiffers as the new CEO and the transition of the co-founders into strategic executive roles highlight LMPG's commitment to growth and innovation. The company will now focus on its current brands and further strengthening its business opportunities worldwide.
Above: Vode Co-Founder, Tom Warton, videobombs inside.lighting at IALD Enlighten Americas 2022