iGuzzini acquires full control of Sistemalux strengthening its presence and that of the Fagerhult Group in North America
Recanati, 31st August 2021 - iGuzzini illuminazione, an international leader in the architectural lighting sector and part of the Fagerhult Group, today announces the acquisition of the remaining 30% of the shares in Sistemalux Inc. With this transaction, the company further strengthens its presence and that of the Fagerhult Group in North America, improving the penetration capacity of this important market characterized by great international specifications, high technological standards and high growth expectations.
Sistemalux is based in Montreal, Canada, and has a long-lasting business relationship with iGuzzini. Besides offering premium lighting solutions under its own brand, Sistemalux has been an important partner for the introduction of the iGuzzini brand in the US and Canada. In 2020 the net sales was approximately 27,3 million euros. In 2018, iGuzzini acquired 70% of the shares in Sistemalux and now has acquired the remaining 30%.
“I am thrilled that iGuzzini has taken over 100% of the ownership of Sistemalux, an act that shows how much the company and the Fagerhult Group believe in their North American organization and market. I am happy to give our overseas collaborators a renewed official welcome within the Group and to be able to continue to rely on them as ambassadors of the iGuzzini and Sistemalux brands, in synergy with the entire Fagerhult Group” said Cristiano Venturini, CEO iGuzzini illuminazione. "Despite the challenges and the high uncertainty of the moment, we have not hesitated to continue to invest, to pursue new technological developments and new innovative products, and to expand our presence on international markets, as this fundamental acquisition - strategic for the whole Group - shows. We are determined to write new development pages for the North American market and we continue to invest, with courage, to allow the company and people to continue winning future challenges."