Industrial, News

Louis Poulsen returns to private equity hands

The maker of the PH lamp has been acquired by Polaris Private Equity at an undisclosed price, having belonged to the Italian Targetti Sankey Group since 2007, under the name Targetti Poulsen.

Louis Poulsen’s day-to-day management team will remain the same. The company employs 450 staff with headquarters in Copenhagen, Denmark. Early last year the company slimmed down its UK office, making several staff redundant.

Louis Poulsen’s 2013 revenue is expected to come to around 675 million DKK (€90 million), of which approximately 70 per cent derives from international sales.

Søren Schøllhammer, vice president at Louis Poulsen, said: ‘We are pleased that, in Polaris, we have a financially strong owner with extensive knowledge of our business and the ability to give Louis Poulsen the best conditions for focusing on continued development of the company and our unique products.

‘We have created a stronger company in recent years through dedicated efforts to streamline production and improve the quality level, and with Polaris on board, we are now prepared to put growth on the agenda again.’

Allan Bach Pedersen, partner at Polaris, said: ‘Louis Poulsen is a well-run business with strong development competencies, efficient and highly specialized production processes, and a prominent brand in Denmark and internationally.

‘The company’s unique products and status as a design icon is a strong foundation for further growth, and we are looking forward to contributing to its development in the coming years, where we will ensure that Louis Poulsen is given the right conditions for realizing the company’s significant potential.’