Fagerhult acquires Designplan Lighting Ltd
In order to further strengthen the Fagerhult Group position in the UK market as well as adding a complementary product range for the international market, Fagerhult has acquired 100 % of the shares of Designplan Lighting Ltd (Designplan) based in Sutton, the UK. The acquisition will have a positive effect on the earnings per share during 2011 and forward.
Designplan has 180 employees and manufactures lighting fixtures primarily for environments where weather and vandal resistant lighting is needed e.g. prisons and transportation. The company has sales turnover of approximately MGBP 11 with profitability well in line with Fagerhult Group’s average.
“Our strategy is to become a clear leader in the European lighting industry. With the acquisition of Designplan we will further strengthen our position in the important UK market. Designplan is a significant UK manufacturer and has a well recognized leadership position. Designplan’s product range and capabilities are a perfect fit to Fagerhult’s existing product portfolio and will allow us to expand Designplan sales internationally”, comments Paul Barton, Fagerhult’s Region Director for the UK, Ireland and the Middle East.
Fagerhult pays a price of MGBP 10, on a cash and debt free basis, for 100 % of the shares in Designplan with an additional possible consideration of maximum MGBP 2.
More information on Designplan is available at www.designplan.co.uk.
Habo March 11, 2011
Disclosures may be submitted by
Johan Hjertonsson CEO tel: 0046 36 10 87 06 mobile: 0046 70 229 77 93 e-mail: johan.hjertonsson@fagerhult.se
Ulf Karlsson CFO tel: 0046 36 10 85 63 mobile: 0046 70 537 04 54 e-mail: ulf.karlsson@fagerhult.se
Paul Barton, Region Director UK, Irland and the Middle East tel: 0044 161 331 5800 mobile: 0044 7889 861415 email paul.barton@whitecroftlight.com
Fagerhult is one of Europe’s leading lighting groups with approximately 2,100 employees and operations in 17 countries. We create modern products and exciting, energy-efficient and environmentally-adapted lighting installations, successfully integrated into their individual environments. The Group includes such strong brands as Fagerhult, Ateljé Lyktan, LTS and Whitecroft Lighting. AB Fagerhult is listed on the Nasdaq OMX Nordic Exchange in Stockholm.
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