Philips Electronics (Signify Lighting) Acquires Optimum LLC, M&A
Royal Philips Electronics (Now Signify Lighting) has acquired 100% of the shares of Optimum Lighting LLC. Optimum is a privately owned company specializing in customized energy-efficient lighting solutions for the office, industry and retail segments. This acquisition complements Philips’ customer-centric innovation capabilities and strengthens its global leadership position in professional lighting solutions.
“Office lighting uses approximately 30% of the total energy consumption in buildings, so there is a great opportunity to upgrade the older inefficient lighting currently used in the majority of buildings to state-of-the-art energy-efficient solutions,” said Rudy Provoost, Chief Executive Officer of Philips Lighting. “The acquisition of Optimum Lighting further strengthens our overall ability to deliver tailor-made turnkey solutions to our customers that provide superior lighting performance, while reducing their operating expenses.”
About the Seller
Founded in 2005, Optimum Lighting was a manufacturer of energy-efficient lighting fixtures. Optimum specialized in customized solutions of fluorescent fixtures for retail, industrial, commercial and warehouse applications. Headquartered in Henderson, North Carolina, Optimum employed approximately 70 people.
The transaction was led by Mark Sapsford, partner and founder of CapEQ. Mark has over 20 years of M&A experience helping shareholders and business owners sell and acquire businesses across the world. Mark has deep experience in cross border and complex business sales.
About the Purchaser
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified health and well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle, and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Headquartered in the Netherlands