Triton has signed an agreement to acquire a majority interest in Glamox
Oslo (Norway), 29 September 2017 - Funds advised by Triton ("Triton") have signed an agreement to acquire a majority interest in Glamox AS (“Glamox”), a Norwegian industrial group that develops, manufactures and distributes professional lighting solutions for the global market, from Arendals Fossekompani ASA. Glamox is a leading supplier to the world's marine and offshore markets, and a significant supplier to the professional building market in Northern Europe. The transaction is subject to regulatory approval.
"We want to support the management and employees of Glamox as a stable owner by investing in and supporting the growth and development of the company. We will contribute with our strategic insights and operational know-how in this industry. We look forward to working together with the management team, the Board of Directors and the other shareholders in building a stronger company", said Peder Prahl, Director of the General Partner for the Triton funds.
“We have been shareholders in Glamox since 1982. We believe in the company, its management and employees, and will remain a long-term, responsible owner alongside Triton,” said Erik Must, the other main shareholder.
Glamox is a Norwegian industrial group that develops, manufactures and distributes professional lighting solutions for the global market. Glamox is a leading supplier to the world's marine and offshore markets, and a significant supplier to the professional building market in Europe.
Glamox is a global organization, with 1,300 employees and sales and production in several European countries, as well as in Asia and North America. The annual turnover is MNOK 2,507 (2016). The Group owns a range of quality lighting brands including Glamox, Aqua Signal, Luxo, Norselight and LINKSrechts. Glamox is committed to meeting customer needs and expectations by providing quality products and solutions, service and support.
For further information: www.glamox.com
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.
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 30 companies currently in Triton's portfolio have combined sales of around €14.2 billion and around 88,000 employees.
The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.
For further information: www.triton-partners.com