Fagerhult acquires LTS Licht & Leuchten GmbH
In order to further strengthen the Fagerhult Groups position in the retail lighting industry as well as creating a strong platform for growth in the important German market, Fagerhult have acquired 100 % of the shares of LTS Licht & Leuchten GmbH (LTS) based in Tettnang, Germany. The acquisition will have a significantly positive effect on the earnings per share as of quarter one - 2011 and forward.
LTS has 230 employees and manufactures lighting fixtures primarily for the Retail segment. In 2009 the company had sales of MEUR 48 with a very strong profitability. The company is perceived amongst customers being a major player when it comes to product portfolio, quality and as well as performance in all aspects.
“Our strategy is to become a clear leader in the European lighting industry. With this acquisition we will clearly establish ourselves as an important partner in the growing Retail lighting segment. LTS will be a solid platform for growth in the important German market. We expect to grow not only in the Retail segment but also in the important professional lighting segment”, comments Johan Hjertonsson CEO Fagerhult.
Fagerhult pays a price of MEUR 61, on a cash and debt free basis, for 100% of the shares in LTS.
More information on LTS is available at www.lts-light.eu
Habo 22 October 2010
Disclosures may be submitted by
Johan Hjertonsson CEO tel: 46 36 10 87 06 mobile: 46 70 229 77 93 e-mail: johan.hjertonsson@fagerhult.se
Ulf Karlsson CFO tel: 46 36 10 85 63 mobile: 46 70 537 04 54 e-mail: ulf.karlsson@fagerhult.se
Fagerhult is one of Europe’s leading lighting groups with approximately 2,000 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, Waco, Ateljé Lyktan and Whitecroft Lighting. AB Fagerhult is listed on the Nasdaq OMX Nordic Exchange in Stockholm.
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