Schneider Electric and Fagerhults Belysning AB have today completed a process in which the entire share capital of I-Valo Oy has been transferred from Strömfors Electric Oy (part of Schneider Electric Group) to Fagerhults Belysning AB. Schneider Electric is a global leader in energy management. Fagerhults Belysning AB is one of the leading European lighting solution companies.
“While we engage in the delivery of lighting control systems, our strategic intent is not to be a lighting systems designer and manufacturer. Therefore, we have recognized that I-Valo Oy, as a lighting systems expert, has better potential for development outside the Schneider Electric Group”, says Mika Murtoniemi, acting Managing Director of Schneider Electric Finland Oy. “We see that the new owner offers I-Valo an excellent framework to develop as a company. We look forward to continuing cooperation with I-Valo in common customer projects in the future.”
Fagerhults Belysning AB employs around 2,300 people, operating in 17 countries. The company creates modern products and exciting, energy-efficient and environmentally-adapted lighting installations. In its portfolio, the Fagerhult Group has such strong brands, such as Fagerhult, Ateljé Lyktan, Whitecroft Lighting, LTS Licht & Leuchten and DesignPlan. Fagerhults Belysning AB is listed on the Nasdaq OMX Nordic Exchange in Stockholm.
Johan Hjertonsson, CEO Fagerhult, comments:
“Our strategy is to become a clear leader in the European lighting industry. With this acquisition we will strengthen our Nordic base while also gaining access to a product leader within the Industrial applications segment. We expect I-Valo to grow within its current attractive niche, but also provide a platform to grow into adjacent lighting segments that also require lighting solutions operating in very demanding conditions – such as the marine & offshore segment.”
I-Valo is known for its expert niche, designing and manufacturing high quality lighting solutions for different industrial applications. The company has a reputation of being able to deliver for extremely demanding conditions, as well as for homes and public buildings.
“We see the transaction as beneficial to all parties. I-Valo’s operations will go on as usual. The management team will remain in place, and is committed to the company”, says Mika Nurminen, Managing Director of I-Valo Oy. “A seamless migration is taking place. That is of course in everybody’s best interest. We look forward to the future as part of Fagerhult.”
Schneider Electric Finland
Acting Managing Director
Tel.: +358 50 340 3044
Tel.: +358 50 379 1717
Tel.: +46 70 229 77 93