(Poland) – Acquisition of ES-System strengthens Glamox’s position in Polish market.
Glamox has secured more than 98% of shares in ES-System, the largest lighting company in Poland by turnover.
The purchase was confirmed on 4 December, with Glamox acquiring 98.21% of shares in the Polish lighting company.
Founded in 1990 with headquarters in Kraków, Poland, ES-System today employs nearly 900 people full time, with two factories in Wilkasy and Dobczyce.
The acquisition gives Glamox access to an attractive lighting market with high growth driven by a healthy macro-economy and a high level of activity in the construction and installation industry.
“The acquisition of ES-System is in line with Glamox’s strategy of buying up leading companies in Western and Central Europe with matching customer segments, channels and market positions,” said Rune Marthinussen, CEO of Glamox.
“ES-System’s products will further strengthen the range of products we are able to offer our customers. In addition to giving us a leading position on the Polish market, it will also strengthen us in our core markets.”
The transaction was completed on 10 December, and the purchase has been approved by the relevant competition authorities. Glamox intends to acquire all shares in ES-System, and will put in motion an obligatory buy-out procedure for the remaining shares under the conditions stipulated by Polish law.