The London-based private equity firm Investindustrial announced last week that it has acquired Copenhagen-based lighting brand Louis Poulsen, manufacturer of iconic lighting fixtures such as the classic PH Artichoke and the recently revamped PH 5. The company has not been under the leadership of the Poulsen family since 1917, and has changed hands numerous times in the last century. Louis Poulsen was last acquired by the Danish private equity company Polaris in 2014 and prior to that by Italian lighting company Targetti Sankey in 2007.
“I am pleased that we have partnered with Investindustrial to launch the next stage of our development,” said Louis Poulsen CEO Søren Mygind Eskildsen in a press release. “The global lighting industry remains as strong as ever and with Investindustrial’s rich experience in the design sector and expertise in driving the internationalization of brands, we are looking forward to working with them to achieve further international growth.”
Founded in 1892 in Copenhagen, Louis Poulsen is a privately held company with more than 300 employees worldwide. To date, the company has collaborated with architects and designers such as late Danish, modernist architects Arne Jacobsen and Poul Henningsen; Foster + Partners senior partner and designer John Small; and Oki Sato, Japanese designer and founder of design studio Nendo.
“We are delighted to welcome Louis Poulsen among our investments,” said Andrea Bonomi, Investindustrial founder and managing principal in the same press release. “The company enjoys a world class reputation and forms an important part of our design-led portfolio of investments. Investindustrial sees significant growth potential for Louis Poulsen and will work closely with management to grow its business.”
Investindustrial, which was founded in 1990, “operates through independently managed investment holding” and “advisory companies.” With nearly $7.5 billion (approximately €6.5 billion) in total assets, the company is one of Europe’s largest independent investment groups.
In 2014, Investindustrial bought a majority stake in Flos, an Italian manufacturer of lighting products. Other Investindustrial’s brands include Italian modern furniture company B&B Italia and British furniture and home accessories retailer Oka.
Subject to regulatory approvals, the transaction is scheduled to close during the third quarter of this year. The financial details of the acquisition have not been disclosed.
