To consolidate its market position, Fagerhult acquired Italy building lighting company iGuzzini

According to foreign media reports, a few days ago, Sweden lighting company Fagerhult will acquire Italy's leading building lighting company iGuzzini.

It is reported that Fagerhult and iGuzzini shareholders signed a letter of intent to acquire 100% of the company's shares.

Fagerhult now has the right to conduct a due diligence investigation of the company, and the goal is to sign the stock purchase agreement before Christmas.

The final confirmation of the transaction is subject to the approval of the board of directors of Fagerhult and the approval of the European competition director. The capital of the transaction will be provided by the Fagerhult stock's debt and the new rights issue.

After completing the transaction, the Guzzini family will get a large part of the consideration of Fagerhult shares and become shareholders of the merged company. IGuzzini President Adolfo Guzzini and CEO Andrea Sasso will also serve as senior positions of Fagerhult senior management team in addition to performing their respective duties in iGuzzini.

Fagerhult said that the acquisition of iGuzzini will greatly strengthen its position in the professional lighting market, whether in the geographical position or in the complementary product range.

It is reported that iGuzzini was founded in 1959, and has a high brand reputation. It mainly produces and manufactures indoor lighting and outdoor lighting products. Its headquarters is located in Italy. It is understood that the company initially considered issuing IPO this year, but decided to sell it directly to another lighting company. (Editor: LED net James)

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