Luxonic is pleased to announce that on the 30th of April, Glamox entered into an agreement and successfully closed the acquisition of 100% of the shares in Luxonic Group Ltd. (“Luxonic Lighting”) and its subsidiaries. Established in 1986, Luxonic is a UK based lighting company with a strong brand and its own manufacturing plant located in Basingstoke, UK. Glamox has been present with its own subsidiary in the UK since 1967. The acquisition strengthens Glamox’ and Luxonic’s combined position in the UK lighting market with complementary sales reach and product offering.
Luxonic had revenues of GBP 16.7m in 2018. Glamox pays GBP 10.15m on a cash and debt free basis as an initial payment for 100% of the shares of Luxonic Lighting. An additional earn-out of GBP 6.75m can be paid conditional on the company’s performance in 2019 and 2020.
Rune E. Marthinussen, CEO of Glamox, commented: “We are excited about this strategic opportunity that will allow us to further strengthen our position in the UK lighting market. The UK market is one of the largest lighting markets in Europe and Luxonic Lighting is a strong system solution provider with a high service level and local manufacturing that is highly recognized by customers.”
Nick Tavaré, Managing Director of Luxonic Lighting, commented: “We are very pleased to become part of the Glamox Group. The acquisition marks the start of an exciting new phase for Luxonic Lighting moving from 33 years as an independent business to being part of an international group with all the advantages that brings but without losing our well-established identity in the UK. We look forward to further serving our existing and new clients by providing them an even stronger offering through the support of Glamox.”
For more information, please contact
Nick Tavaré, Managing Director of Luxonic Lighting
Tel.: +44 (0) 7768 481120
Rune Marthinussen, CEO Glamox
Tel.: +47 22 02 11 00
https://www.luxonic.co.uk/
About Luxonic Lighting
Luxonic Lighting is a leading UK designer and manufacturer of commercial lighting solutions. For over 33 years, Luxonic’s passion for developing and manufacturing energy efficient and optically superior products has seen the company deliver a portfolio of lighting and controls solutions to some of the UK’s most innovative businesses. The company employs over 150 people with the head office and manufacturing facilities in Basingstoke and three regional lighting design offices in London, Manchester and Glasgow.
About Glamox AS
Glamox is a Norwegian industrial group that develops, manufactures and distributes professional lighting solutions for the global market. The Glamox Group is a leading supplier to the world's marine and offshore markets, and a significant supplier to the professional building market in Europe.
The Glamox Group is a global organization, with approx. 1400 employees within sales and production in several European countries, as well as Asia, North and South America. The annual turnover is NOK 2.8bn (2018). The Group owns a range of quality lighting brands including Glamox, Aqua Signal, Luxo, Norselight, LINKSrechts and Küttel. Glamox is committed to meeting customer needs and expectations by providing quality products and solutions, service and support. As of December 2017, funds advised by Triton are the majority owner of Glamox.
