The Swedish lighting giant Fagerhult has bought LED Linear in a spectacular €40 million deal.
The German manufacturer LED Linear has been a star performer in recent years with a winning range of linear architectural fixtures and modules. The linear lighting sector is booming as LEDs open up applications in commercial and hospitality sectors. The company grew 40 per cent last year and is currently selling over €20 million of products annually in Europe, North America and Asia. The plan is to accelerate the growth further and dominate the sector, with Fagerhult selling LED Linear equipment through its extensive network of distributors.
Founder Dr Michael Kramer, who is remaining at the company along with management colleague Carsten Schaffarz, told Lux: ’This deal offers amazing opportunities to our company, joint ventures and employees to grow our business’.
‘LED Linear has an excellent track record of innovation, delivering a range of leading linear architectural lighting solutions’, Fagerhult CEO Johan Hjertonsson told the press.
Fagerhult has made no secret of its ambitions to be a major lighting player in Europe and beyond.
The deal was announced in Frankfurt at the global lighting show Light + Building. Over the course of the last decade, it has made no fewer than ten strategic acquisitions. These include Turkish lighting firm Arlight (2014), Finnish fixture manufacturer I-Valo (2013), UK industrial and transport lighting specialist Designplan (2011), retail lighting specialist LTS (2010), Spanish agent Fagerhult SL (2009), after-sales service company Commtech Commissioning Services (2009), Belgian architectural fitting maker Waco (2009), Australian lighting company Eagle Lighting (2007) and Irish lighting firm Project Lighting Equipment (2007).
Picture copyright Örjan Henriksson