Italian lighting group Targetti Sankey SpA has acquired 92.5% of the shares in Denmark's Louis Poulsen Lighting, a company producing and selling lighting made by world-renowned Danish designers like Poul Henningsen and Arne Jacobsen, from Polaris Private Equity and H&D Invest for DKK 1.25 bn (USD 225 m).
The remaining 7.5% shares are owned by Louis Poulsen MD Peter Thorsen, who will be part of the group management of Targetti Sankey.
The acquisition of Louis Poulsen Lighting will make Targetti Group the third largest high-end lighting concern in Europe. Lorenzo Targetti, MD of Targetti comments: "We are confident that Louis Poulsen is a perfect partner, not just because of its management expertise, competitive position and quality products, but also because it complements Targetti. We expect the transaction will create significant value."
Louis Poulsen Lighting is among the ten largest suppliers on the professional lighting market in Europe, and one of the three leading suppliers in the US. The company has representation offices in Dubai and Moscow and subsidiaries in Japan, USA, Sweden, Norway, Finland, Germany, Switzerland, the Netherlands, France and UK. Louis Poulsen Lighting employs 575 people and generates DKK 750 m (USD 135 m) in revenues annually.
The news was reported by financial daily newspaper Børsen and in a Louis Poulsen press release.