(Sweden) – Change of ownership expected to streamline organisational structure with the aim to expand WE-EF brand, product portfolio and global sales.
Exterior lighting specialist WE-EF has announced that its shareholders and joint venture partners have chosen to join the Stockholm-based Fagerhult Group.
This change towards centralised ownership is expected to pave the way for a more streamlined organisational structure – with the aim of further expanding the WE-EF brand, its professional product portfolio and its global sales. The acquisition is expected to be concluded within the first quarter of 2017, pending approval by the German Federal Cartel Office (Bundeskartellamt).
“By joining the Fagerhult Group, with its decentralised structure, we are confident to have secured the future prospects and expansion of WE-EF,” said WE-EF Managing Director Stephan Fritzsche. “While the shareholders and joint venture partners agreed to sell their interest to the Fagerhult Group, WE-EF will continue to operate autonomously, under its well-established and highly respected brand.”
Founded in Bispingen, northern Germany, in 1950, WE-EF has since developed from a small, family-owned company to a globally active manufacturer of exterior lighting equipment, with a worldwide network of partners and distributors. WE-EF is recognised globally for its professional lighting solutions for urban as well as architectural applications. In addition to the head office in Bispingen and a second facility in Neuendorf im Sande, the WE-EF Group consists of joint ventures in France, Switzerland, the United Kingdom and the United States as well as in Thailand and Australia.
Stephan Fritzsche and Thomas Fritzsche will remain in their positions as Managing Directors of WE-EF LEUCHTEN GmbH at the head office in Bispingen, and WE-EF LIGHTING Co Ltd in Thailand, respectively. Moreover, Stephan has been appointed WE-EF Group Managing Director. Together with the global WE-EF team, the international business in the exterior and architectural market segments will continue to be enhanced and expanded. All other current Managing Directors will also remain in their positions within the Group.
“We see plenty of potential for powerful synergy with WE-EF’s ascension into the ranks of the Fagerhult Group,” noted Johann Hjertonsson, CEO of the Fagerhult Group.
For example, Fagerhult sales channels can be used in addition to the WE-EF distribution network, thereby strengthening the group’s presence in the outdoor lighting market.
With the acquisition, the Fagerhult Group’s turnover in the outdoor segment is expected to increase to more than €100million. As of the end of the financial year in June 2016, WE-EF had 484 employees and recorded consolidated group sales of approximately €57million.
WE-EF group companies included in this transaction are:
– WE-EF LEUCHTEN GmbH; Bispingen, Germany
– WE-EF LEUCHTEN GmbH & Co. KG; Bispingen, Germany
– WE-EF TRADING & DESIGN GmbH; Bispingen, Germany
– WE-EF LUMIERE S.a.r.l.; Satolas-et-Bonce, France
– WE-EF LIGHTING Co. Ltd.; Bangplee, Thailand
– WE-EF HELVITICA SA; Geneva, Switzerland
– WE-EF LIGHTING Ltd. Nottingham, UK
– WE-EF LIGHTING Pty. Ltd.; Braeside, Australia
– WE-EF LIGHTING USA LLC; Warrendale, USA
– Flux Eclairage S.A.S.; Satolas-et-Bonce, France