Glamox acquires Luxonic Lighting
Oslo (Norway) / Hampshire (England), 30 April 2019 – Glamox, a Triton fund IV company, has acquired 100% of the shares in Luxonic Group Ltd. (“Luxonic Lighting”) and its subsidiaries.
Established in 1986 and with revenues of GBP 16.6m in 2018, Luxonic Lighting 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 and the acquisition strengthens Glamox’ and Luxonic’s combined position in the UK lighting market with complementary sales reach and product offering.
“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,” said Rune E. Marthinussen, CEO of Glamox.
Glamox is a leading provider of lighting solutions to the Northern European professional building market and to the global marine and offshore markets. The Glamox Group is a global organisation with more approximately 1 400 employees and an annual turnover of 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 owners of Glamox.
Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors.
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe. Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 38 companies currently in Triton's portfolio have combined sales of around €14.9billion and around 72,000 employees.
For further information: www.triton-partners.com