(Canada) – Following more than 20 years of working together, iGuzzini has acquired Canadian lighting distributor Sistemalux.
iGuzzini lighting has signed an acquisition agreement for 70% of the assets of Montreal-based Sistemalux Inc. The Canadian company is expected to end 2017 with revenues of 30 million CAD. Through the acquisition, iGuzzini reinforces its presence on the North American market and completes its product range.
Founded in Montreal in 1984 by the Italian-Canadian family Folisi, Sistemalux is one of the most qualified players in the sector of design, production and commercialisation of indoor and outdoor lighting systems for commercial and residential projects, operating with a network of 54 distribution agencies, offices and showrooms in Canada (Vancouver, Toronto, Quebec City) and in the United States (New York). With around 200 employees, Sistemalux registered a yearly growth of more than 15% over the last three years.
The partnership between iGuzzini and the shareholders of Sistemalux started more than 20 years ago when Sistemalux became an iGuzzini distributor. In 2007, the collaboration evolved through the constitution of the joint-venture iGuzzini North America, owned 70% by iGuzzini and 30% by Sistemalux’s shareholders. In 2010, iGuzzini North America expanded further, entering the United States with the opening of iGuzzini Lighting USA in New York, led by Salvatore Folisi.
“The acquisition of Sistemalux represents an excellent opportunity to reinforce our presence in North America and improve the profitability and the potential for growth available in this important market,” said Andrea Sasso, CEO of iGuzzini illuminazione.
“We are proud of this new agreement, which is not only an industrial arrangement but the natural evolution of a 20-year collaboration between the Guzzini and Folisi families,” added Adolfo Guzzini, iGuzzini President. “We share the same idea of a successful business model. A model that is based on the industry competencies, technology, design and attention to territorial marketing policies.”
“Our family and all the employees of Sistemalux share the same values with all their partners,” declared Salvatore Folisi, CEO of Sistemalux, iGuzzini North America and iGuzzini Lighting USA. “This agreement marks an important new chapter in our growth trajectory. The lighting industry is rapidly evolving, most of all in terms of digitalisation, and iGuzzini has the capacity to perfectly integrate its know-how in terms of territorial dynamics, consolidated leadership and strong expertise in the sector.”