The Italian furniture group Calligaris, controlled by the Alpha 7 fund (managed by Alpha Private Equity) has taken over Luceplan lighting brand. The seller is Signify, the new name of Philips Lighting, a world leader in lighting. Calligaris was assisted in the transaction by the financial advisor Banca Akros and the law firm Pedersoli. The closing of the transaction is expected within a month.
The deal confirms Calligaris’ strategy of bringing together the main furniture brands to become a global design brand and is also part of Alpha’s value creation strategy. The acquisition will allow the two companies to expand their activities, as well as to enhance their distinctive identities and market positioning.
“Luceplan is for us a new and exciting chapter. I have always been attracted by the history of this company that over the last 40 years has been consecrated as one of the pillars of the lighting sector, incessantly pursuing the path of innovation and design. We will work to maximize synergies between our companies in order to improve and strengthen the market position of both brands “, commented Stefano Rosa Uliana, ceo of Calligaris. “This partnership will allow the group to further expand its business globally,” said Valentina Pippolo, Alpha’s country head for Italy reporting to senior partner Edoardo Lanzavecchia.
Founded in Milan in 1978, Luceplan produces highly energy-efficient lamps designed to last over time. The company exports around 80% of its turnover (around 20 million euros).
Calligaris, founded in 1923 and based in Manzano (Udine), holds a leading position in the global living & dining furniture market, with a wide range of Italian design chairs, tables and sofas in the high-end segment. The company develops, produces, assembles and distributes its products through the three brands Calligaris, Connubia and Ditre (acquired in 2017, see here a previous article by BeBeez), with a network of over 650 stores in 100 countries and branches in the United States , Japan, France, United Kingdom and Russia. The Alpha 7 fund took over the majority of the company in August 2018 (see here a previous article by BeBeez). Calligaris closed 2018 with a consolidated turnover of around 142 million euro, with an export share up 70%.
Alpha Private Equity manages 2 billion euros and specializes in mid-cap operations in continental Europe. In Italy, Alpha holds in its portfolio also: AMF (metal and non-metallic accessories for clothing, footwear and leather goods), Laminam (large ceramic slabs), Caffitaly (machine systems and capsules for espresso coffee), Remazel Engineering (special equipment for the oil & gas sector, controlled by Alpha through the holding company Advanced Technologies Industrial Group sa, which in turn also controls Mios Elettronica, a leader in the design and production of communication and control systems for the railway sector), Optima Italia (energy and telecommunications) and Savio (winding machines and yarn quality control).
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