International player buys Lancashire LED lighting firm
THE majority shareholding of Lancashire-based LED lighting company acdc has been acquired by international corporation Zumtobel Group.
Acdc is an innovative supplier of high-end LED lighting solutions with a focus on the architectural façade and hospitality segments.
In 2014 acdc posted annual sales revenues of approximately £12.3m with a current headcount of around 120 employees.
Barrowfield-headquartered acdc’s long term chief executive and majority shareholder Gareth Frankland will continue to head the brand and drive forward its dynamic development within the Zumtobel Group, it said.
Zumtobel Group chief executive Ulrich Schumacher said: “For the Zumtobel Group, the acquisition of acdc is an excellent strategic addition to our existing brand and product portfolio.
“With acdc, we are bringing an extremely innovative, highly successful and well-positioned premium brand under the umbrella of the Zumtobel Group.
“Architectural façade and hospitality lighting are precisely the areas where we see major growth opportunities which we can leverage with the new setup.
“Furthermore, the acdc team has a highly developed innovation culture which enables them to provide a fast and dynamic response to market requirements. This culture will also inspire the employees of the Zumtobel Group.
“It is our declared aim to retain acdc’s dynamic innovation culture and their excellent customer relationships. For that reason, acdc will be managed as an independent brand and, in terms of our organisational structure, will be integrated into the Zumtobel Group as a flexible individual unit.”
The key markets for acdc are currently its domestic UK market and the Middle East, along with a selective presence in other European countries and the USA.
Zumtobel Group’s worldwide sales organisation currently encompasses around 1,750 sales staff within the lighting segment.
Acdc chief executive Gareth Frankland said: “Joining the Zumtobel Group represents an important milestone for us on our path to further growth and the global development of acdc.
“As part of the Zumtobel Group, we will benefit from a worldwide sales network and from the benefits of a global and group-wide purchasing organisation. In addition, we see technology and development synergies and I will continue to rely on the knowledge, experience and the dedication of our employees for the further development of acdc within the Zumtobel Group.”
Gareth Frankland was advised on the sale by Hamish Morrison of BHP Corporate Finance and Richard Moran and Rachel Dean at Clarion.
