The Zumtobel Group, the international lighting corporation that is the parent company of lighting brands Thorn, Tridonic, and Zumtobel, has acquired the majority stake in the United Kingdom-based LED lighting company AC/DC LED Holdings Ltd (acdc). Headquartered in Barrowford, north of Manchester, acdc, which launched in 2001, provides high-end LED lighting solutions with a particular focus on the architectural façade and hospitality sectors. In 2014, the company, which employs 120 people, and has additional offices in London, Dubai, and the United States, posted sales revenues of €17 million (approximately $19.1 million).
With the current transaction, the Zumtobel Group becomes the majority shareholder in acdc with a 60 percent stake. An option exists for the Zumtobel Group to purchase the remaining holdings at a future date. The transaction amounts are not being disclosed. Gareth Frankland, acdc’s CEO and majority shareholder, will continue to lead the brand as it continues its growth under the Zumtobel Group.
Ulrich Schumacher, CEO of the Zumtobel Group, issued the following press statement: “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 organizational structure, will be integrated into the Zumtobel Group as a flexible individual unit.”
To date, the United Kingdom and the Middle East have been strategic markets for acdc. The company has also had a “selective presence” in Europe and the U.S. The new partnership will allow for further growth opportunities.
“Joining the Zumtobel Group represents an important milestone for us on our path to further growth and the global development of acdc,” said acdc CEO Gareth Frankland in a prepared statement. “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 organization. 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. Together, we will continue to dynamically drive forward the acdc brand and strengthen its position in the global lighting market.”
