iGuzzini has signed an agreement to acquire 70 percent of the assets of Sistemalux Inc to reinforce its presence on the North American market and complete its product range. The Canadian company, with its headquarters and production plant in Montréal, is expected to close 2017 with revenues of C$30 million.
Founded in Montreal in 1984 by the Italian-Canadian family Folisi, Sistemalux is one of the most qualified players in the sector of design, production and commercialisation of indoor and outdoor lighting systems for commercial and residential projects. The company has around 200 employees and operates a network of 54 distribution agencies, offices and showrooms in Canada and the United States.
The partnership between iGuzzini and the shareholders of Sistemalux started more than 20 years ago when Sistemalux became an iGuzzini distributor. In 2007, the collaboration evolved through the constitution of the joint-venture iGuzzini North America, owned 70 percent by iGuzzini and 30percent by Sistemalux’s shareholders; in 2010, iGuzzini North America expanded into the United States with the opening of iGuzzini Lighting USA in New York.
“We are proud of this new agreement, which is not only an industrial arrangement but the natural evolution of a 20-year collaboration between the Guzzini and Folisi families,” said iGuzzini president Adolfo Guzzini. “We share the same idea of a successful business model – a model which is based on the industry competencies, technology, design and attention to territorial marketing policies.”
For his part, Sistemalux CEO Salvatore Folisi said “this agreement marks a new important chapter of our growth trajectory. The lighting industry is rapidly evolving, most of all in terms of digitalisation, and iGuzzini has the capabilities to perfectly integrate our know-how of the territorial dynamics, consolidated leadership and strong competencies in the sector”.
In North America iGuzzini has illuminated many museum and cultural sites such as the Whitney Museum in New York, the Lacma Museum in Los Angeles, Columbia University, and the Morgan Library & Museum in New York; in the retail sector it counts as clients Macy’s, Starbucks, and Eataly in New York and the showrooms for key players in the high-end automotive sector; and in the workspace arena it lights the headquarters of Google and Amazon.