July 9, 2024
Italian Lighting Firm Acquires Acoustic Lighting Maker Luxxbox
Bob Keimig of Luxxbox engaging with designers at NeoCon, June 2024. Photo credit: Luxxbox
Move aims to broaden global market access for sound-absorbing lighting solutions
Panzeri Group, an Italian lighting manufacturer with over 70 years of experience, has acquired a majority stake in Luxxbox, an architectural lighting company specializing in sound-absorbing lighting solutions. The acquisition, announced in June, marks a significant step in Panzeri's international expansion strategy and Luxxbox's entry into new markets. The Inside Lighting I-Team has been properly admonished for not reporting this news earlier.
Founded in 1947 in Biassono, Northern Italy, Panzeri has built a reputation for high-end designer lighting, blending traditional craftsmanship with modern techniques. Luxxbox, established in 2006 by Jason Bird in Brisbane, Australia, with a North American hub in California, has gained recognition for its products that combine lighting performance with acoustic functionality.
Luxxbox goes to market in the U.S. and Canada through commercial lighting agents who are often best known for having strong relationships with the local lighting design and specification community.
The acquisition is part of a growth plan initiated by Panzeri following F&P Equity Partners' investment in 2023. According to CB Insights, Panzeri has acquired a majority stake in Luxxbox, though the financial terms of the deal were not disclosed.
Market expansion goals
For Panzeri, this move represents an opportunity to strengthen its presence in the North American market. The Italian firm aims to leverage Luxxbox's established network of commercial and industrial lighting agents, particularly those with strong connections to local specification and lighting design communities in the US and Canada.
Luxxbox, on the other hand, gains access to European and Middle Eastern markets, where the demand for sound absorption in commercial environments is growing. Jason Bird, Founder and Creative Director of Luxxbox, will remain involved with the company post-acquisition.
"This is a great opportunity for Luxxbox's ongoing growth, and I'm excited to embark on this journey with Panzeri," Bird stated. "There is a genuine understanding of our shared values and how we can work together to benefit each other and, most importantly, our customers."
Both companies design and manufacture products in-house, emphasizing attention to detail and eco-sustainable practices. This shared commitment to quality and sustainability was a key factor in the merger.
Industry observers note that this acquisition could lead to the introduction of Luxxbox's acoustic lighting solutions in new markets, while potentially expanding Panzeri's product range to include sound-absorbing elements.
Moving on from setbacks
The merger comes at a time of recovery for Luxxbox, which faced a setback in February 2023 when a fire damaged its U.S. headquarters in Sonoma, California. Despite the incident, which Sonoma's The Press Democrat reported as likely a "total loss," Luxxbox maintained operations due to its dual-site manufacturing capabilities.
As both companies look to the future, they anticipate that their combined strengths will lead to innovative lighting solutions catering to a global market. The focus remains on creating products that not only serve as design objects but also enhance the well-being of spaces.
