Norway’s Glamox has entered into an agreement to acquire 100 percent of the shares of UK-based Luxonic Lighting and its subsidiaries. The acquisition will see both Glamox and Luxonic Lighting strengthen their position in the UK lighting market with complementary sales reach and product offerings.
Established in 1986, Luxonic is a privately-held lighting company with a strong brand, a commitment to research and design, and its own manufacturing plant in Basingstoke, England.
Glamox is a Norwegian industrial group that develops, manufactures and distributes professional lighting solutions for the global market under a range of brands including Glamox, Aqua Signal, Luxo, Norselight and LINKSrechts; it has had a subsidiary in the UK since 1967.
For its most recent reporting year, 2017, Glamox had profits of nearly NOK 293 million on revenues of NOK 2.6 billion (about $300m).
“We are excited about this strategic opportunity,” said Glamox CEO Rune Marthinussen. “The UK market is one of the largest lighting markets in Europe and Luxonic Lighting is a strong system solution provider, with a high service level and local manufacturing that is highly recognised by customers.”
Nick Tavaré, MD of Luxonic, said the organisation was very pleased to become part of the Glamox Group. “The acquisition marks the start of an exciting new phase for Luxonic Lighting, moving from 33 years as an independent business to being part of an international group with all the advantages that brings, but without losing our well-established identity to the UK.”
“We look forward to further serving our existing and new clients by providing them with an even stronger offering through the support of Glamox.”