To strengthen the Fagerhult Group’s position in the industrial lighting sector, the company has agreed to acquire 100% of the shares in WE-EF Leuchten, based in Bispingen, Germany. The enterprise value of the transaction amounted to EUR 81 million.
WE-EF designs and manufactures outdoor lighting armatures for a broad range of application areas. The company operates two factories in Germany, one in Thailand and assembly plants in Australia, France and the US.
Through the acquisition of WE-EF, the companies combined turnover from outdoor lighting will be more than EUR 100 million annually. At the same time, several synergies are created, for example, the possibility of strengthening Fagerhult’s position in the outdoor market, strengthening existing sales in Germany, France, the US and Australia and achieving a significantly wider presence in Asia-Pacific.
AB Fagerhult, founded in 1945 in the south west of Sweden, is one of Europe’s leading lighting companies, with more than 2,700 employees in more than 20 countries and is listed on the Nasdaq OMX Stockholm.