ALG shines following merger
A MANCHESTER lighting distributor has merged with a Leeds rival to create a £35m turnover business.
Trident said the deal with its Yorkshire competitor Ring Lighting would create one of the largest players in the market.
The formation of the new Associated Lighting Group (ALG) was funded by the asset-based lender Burdale Financial and other investors.
David Gutfreund, ALG’s chief executive and former chairman of Trident, said: “The merger of Ring Lighting and Trident allows the combined group to emerge extremely strong, and places us in an excellent position to take full advantage of the recovery.
“The merger represents a major consolidation within the industry, and we will be aiming to strengthen ALG’s position over the short term as we look to acquire smaller competitors and increase our market share. Moreover, this move has substantially reduced Ring Lighting’s debt.”
Both Ring Lighting and Trident supply DIY and High Street retailers such as B&Q, Argos, Focus DIY, Homebase, Wilkinson and Next. The two companies will be managed as separate entities each with their own client base.
The new ALG board will be chaired by Nicholas Jeffrey and include: David Gutfreund as chief executive; Bruce Davidson, managing director of Ring Lighting; Brom Dixon, managing director of Trident; and David Green as group finance director.
Mr Gutfreund has been a member of the Energy Saving Trust’s lighting strategy group for five years. He said he planned to use this experience to help ALG become the largest supplier of energy saving lighting fittings and light bulbs.
TMG Corporate Finance and Stripes Solicitors in Manchester advised on the deal.
