Fagerhult Group
Fagerhult is one of Europe’s leading lighting companies. Our largest markets are the Nordic region and the UK. Outside of these, Fagerhult has strong positions in Germany, the Netherlands, Turkey and Australia. During the year, Fagerhult expanded its international presence through the acquisition of Lighting Innovations with its registered offices in Port Elizabeth, South Africa. With subsidiaries in a total of 25 countries, operations are divided into four geographical business areas. Marketing and sales activities are primarily performed locally through our subsidiaries and also via agents and distributors thus giving Fagerhult access to more than 40 markets. Production units are located in Sweden, Finland, the UK, Germany, Australia, Turkey, South Africa and China.
Fagerhult activities are divided among four geographic business regions:
Northern Europe - Sweden, Norway, Finland, Denmark, Russia, Estonia
UK and Ireland - UK, Irleland,
Western and Southern Europe - Germany, Netherlands, France, Spain, Poland, Slovakia, Belgium; USA
Africa, Asia and the Pacific - Turkey, United Arab Emirates, Australia, New Zealand, South Africa and China
AB Fagerhult’s share is traded on the Nasdaq Stockholm (Mid Cap).
Acquisitions and divestments
Over the course of the last decade, Fagerhult has acquired some ten companies. Acquisitions are an important part of Fagerhult’s business model, and, as such, an essential part of the Company’s long-term growth strategy. Valuable knowledge and experience have been integrated into a decentralised model which creates a platform for successful integration.
2017
WE-EF
In March 2017 Fagerhult has completed the acquisition of 100% of the shares in WE-EF based in Bispingen, Germany.
WE-EF designs and manufactures outdoor lighting fixtures for a wide range of lighting application sectors. The company has two factories in Germany and one in Thailand, as well as assembly plants in Australia, France and the US, and has successfully established a global sales presence with strong sales in Europe, particularly Germany and in France, as well as sales in other regions such as Australia and the US.
2016
LED Linear GmbH
In March 2016 Fagerhult acquired LED Linear GmbH based in Neukirchen-Vluyn, Germany.
LED Linear GmbH has with world class linear LED lighting solutions, a cutting edge integrated manufacturing capability and award winning products and brand successfully established a global sales presence with more than half of the net sales outside Europe, mainly in North America and Asia.
2015
Lighting Innovations
Fagerhult has completed the acquisition in October 2015 of the assets of Lighting Innovations based in Port Elizabeth, South Africa, and the assets of the subsidiary companies Beacon Lighting and Arrow Lighting. Lighting Innovations has a strong possition on the South African market and several interesting growth opportunities within the dynamic Sub Saharan Africa region.
2014
Arlight
At the end of 2013, Fagerhult signed an agreement to acquire the Turkish lighting company Arlight and the transaction was finalised in February 2014. Arlight has a strong position on dynamic Turkish market with application areas that include offices, schools, hospitals, shopping malls and airports. With a modern manufacturing facility outside Ankara, Arlight gives the Fagerhult Group access to low cost production near main markets. Arlight had 160 employees and net sales of 21 MEUR in 2013.
2013
I-Valo
In order to further strengthen the Fagerhult Group position in the European lighting market as well as adding a complementary product range, Fagerhult acquired 100% of the shares of I-Valo Oy based in Iittala, Finland. The acquisition has a positive effect on the earnings per share during 2013 and forward. I-Valo manufactures lighting fixtures and solut ions primarily for industrial applications located in very demanding conditions. Example application areas include paper and pulp as well as mining and bio energy industries. In 2012 the company had 60 employees and net sales of 10 MEUR.
2011
Designplan Lighting Ltd
To further strengthen its position on the British market, as well as to create a new product segment for the international market, Fagerhult acquired, as of March 2011, 100 % of the shares in Designplan Lighting Ltd, with its registered offices in Sutton, UK. The preliminary purchase price was calculated at MSEK 127.9, of which MSEK 11 comprised additional purchase price. After reconciliation, it was not necessary to pay the additional purchase price, for which reason the final purchase price has been reported at MSEK 116.9. The unpaid purchase price has been recognised as income under other income
2010
LTS Licht & Leuchten GmbH
To strengthen its position within Retail Lighting, as well as to create a platform for growth in the important German market, Fagerhult acquired, as of 1 October, a total of 100% of the shares in LTS Licht & Leuchten with registered offices in Tettnang, Germany. The Company engages in the manufacture of lighting systems primarily within the Retail segment and has 230 employees. Sales in 2010 amounted to just over EUR 47 million with an operating income of approx. EUR 11 million.
2009
Fagerhult SL and Commtech Commissioning Services
Effective 1 January, a 100 percent stake was acquired in the Spanish company Fagerhult SL, who has acted as an agent for Fagerhult, and a 100 percent stake was acquired in Commtech Commissioning Services, which is an aftersales service company in lighting and ventilation. The companies have offices in Laz Rozas outside Madrid and have a turnover of MSEK 30, with 13 employees. The purchase price amounts to MEUR 1.25 with a maximum additional purchase sum of MEUR 0.8
WACO
In 2007, Fagerhult acquired a 50 percent stake in the Belgian lighting company, Waco, with an option to purchase the remaining shares in 2009. This option was exercised in early July. The company develops and manufactures products for retail purposes and other applica-tions with high design content. Since 2007, sales have primarily been governed by Fagerhult.
2007
Eagle Lighting (Australia) Pty Ltd
Per 1 June Eagle Lighting of Australia was acquired through an assets and liabilities deal. Eagle Lighting, with net sales of MSEK 100, is a company specialising in professional lighting and with strong future growth prospects within this segment in Australia. The company’s headquarter, factory and distribution centre is located in Melbourne with sales offi ces in both Sydney and Brisbane. The purchase price which is maximised to MAUD 14 consists of MAUD 8.6 in cash with an additional purchase price of up to MAUD 5.4 depending on the profi t/loss development up until June 2008.
Project Lighting Equipment Ltd, Ireland
On the last day of June, 100 percent of the shares in the Iris h company Project Lighting Ltd were acquired. The company, with net sales of MSEK 20, has its offi ce and distribution center in Dublin and has 5 employees. The purchase price consists of M € 1.1 in cash and 20,000 shares in AB Fagerhult and an additional purchase price of M € 0.5 to be paid in 2009. The value of the shares is calculated based on the exchange rate on the date of the acquisition, SEK 153.
http://www.fagerhultgroup.com/en/acquisitions-divestments