L&S Lighting – controlled by Clessidra Private Equity through the Clessidra Capital Partners 3 fund – acquires 100% of the shares of Forma and Function, a company specializing in lighting products for the furniture and household appliances sector. With this operation, the company, active in lighting solutions and systems for the furniture and furniture industry, aims to exceed 2022 million euros in consolidated turnover by the end of 130, 75% of which achieved thanks to exports .
“With this new operation, we further consolidate our presence in the lighting sector, a sector characterized by significant growth prospects linked both to an ever-increasing attention to the light that excites but also to sustainability and energy saving – he comments Andrew Octavian, CEO of Clessidra Private Equity Sgr –. Today, with the L&S group and the integration of Forma and Function, we continue along our strategic path which aims at enhancing successful Italian companies on foreign markets, accompanying them into a new phase of growth and development".
In detail, the operation will see the current shareholders re-invest together with Clessidra in the parent company with a minority stake, maintaining their current managerial roles. With the integration of Form and Function, the L&S Group – which today has over 500 collaborators worldwide, 5 global production centers in Italy, Germany, China and the United States – aims to grow both on the domestic and international markets.
"Just over 2 years after Clessidra's entry into L&S, with the acquisition of this new asset, we confirm our commitment to the Group's expansion and strategic development project - he continues Luciano Iannuzzi, director of L&S and Operating Managing Director of Clessidra Private Equity. – With this operation, L&S strengthens both its global presence and the relationships with customers of primary standing in the furniture, retail and household appliance sectors, to whom we offer unique and innovative solutions to enhance their collections".
He also intervened on the acquisition Peter Barteselli, CEO of L&S: "Together we will have the opportunity to consolidate our role as a strategic point of reference in Europe for furnishing lighting, integrating into the international industrial platform of L&S a reality that will allow us to create further value in the long term period".
“Bringing our experiences, as well as product know-how, best practices in the service approach and reliability for projects in partnership with customers, consolidates, in an even more structured way, the growth path outlined by the Forma e Function team and its partners in an increasingly challenging and complex international context”, he concludes Giuseppe Rossi, managing director of Form and Function.
