Livingstone acts as financial advisor to Fagerhult in the acquisition of LTS Licht & Leuchten GmbH

  • Oct 2010
  • Industrial
  • M&A: Buy-Side
  • Germany
  • Sweden
  • Pan-European

Livingstone has acted as financial advisor to Fagerhult in the acquisition of LTS. LTS has 230 employees and manufactures lighting systems primarily for the retail store lighting segment. In 2009, the company reported revenues of EUR 48 million with very strong profitability. The company is considered to be a leading player in terms of product portfolio, quality and performance by its customers.

To further reinforce the Fagerhult Group’s position within the retail store lighting segment as well as build a solid platform for growth on the important German market, Fagerhult has acquired 100% of the shares in LTS Licht & Leuchten GmbH (LTS), headquartered in Tettnang, Germany. The acquisition will have a positive effect on earnings per share as of the first quarter of 2011 and going forward. Fagerhult is paying a price of EUR 61 million (on a cash and debt free basis) for 100% of the shares in LTS.

‟Our strategy is to become a clear leader within the European lighting industry. With this acquisition, we will establish ourselves as a vital partner within the growing retail store lighting segment. LTS will serve as a solid platform for growth in the all the important German markets.” ‟We expect to see growth not only within the retail store segment but also within the professional lighting segment which is important,” comments Johan Hjertonsson, CEO of Fagerhult. ‟

We have worked with Fagerhult as an advisor for Swedish and international acquisitions and divestments for many years. This deal feels particularly good given the strategic importance it has for the group. The acquisition demonstrates the strength of our partnership with our international partners as we, together with our German colleagues, have been able to offer Fagerhult local presence, expertise and integrated project management,” commented Thomas Karlsson, President of Livingstone.

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Key Transaction Team

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