December 10, 2024
Gewiss Acquires 75% Stake in Beghelli for €50.7 Million
Italian life safety lighting company to become sister brand to Performance in Lighting
Italian electronics company Gewiss S.p.A. announced today that it has agreed to acquire a 75% controlling stake in Beghelli S.p.A. The agreement also includes plans to purchase the remaining shares, with the aim of delisting the company from the Euronext Milan stock exchange.
Gewiss, which is also parent to the Performance in Lighting architectural brand, will purchase the majority stake from Gian Pietro Beghelli and three other members of the Beghelli family at €0.3375 ($0.3559) per share, representing a 47% premium over Beghelli’s December 9 share price. The transaction values the controlling stake at approximately €50.7 million ($53.4 million). The deal is expected to close in the first quarter of 2025, subject to standard regulatory approvals and the resolution of contractual conditions.
Upon completion of the initial purchase, Gewiss will launch a mandatory public tender offer for the remaining shares at the same price, in line with Italian regulations. This is expected to result in the delisting of Beghelli from the stock exchange, allowing for closer integration into Gewiss’s operations.
In a letter to its U.S. agent sales force, Beghelli USA General Manager, Derek Schimming assured his business partners that this is good news and that no sudden changes are expected.
“We want to assure you that our commitment to excellence, service, and a strong partnership remains unchanged. Our culture of innovation, service, and the customer first approach that you’ve come to expect will only be strengthened as we leverage the combined expertise and resources of our two companies.”
— Derek Schimming, General Manager, Beghelli USA in a letter to agents
U.S. Operations: Beghelli and Performance in Lighting
Beghelli has maintained a presence in the North American market since 1989 through its U.S. division currently based in Miramar, Florida. The company provides life safety products and luminaires to a broad range of customers. This acquisition strengthens Gewiss’s U.S. market operations, which also include Performance in Lighting, based in the Atlanta metro area. Gewiss acquired Performance in Lighting in 2022 as part of its broader strategy to enhance its international capabilities.
According to the company announcement, the integration of Beghelli’s expertise in emergency lighting with Gewiss’s existing focus on energy management and lighting systems aims to provide opportunities for new product development tailored to evolving market demands.
