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AB Fagerhult acquires Turkish lighting fixtures and solutions manufacturer


Friday, 20 Dec 2013 10:00am EST 

AB Fagerhult:Says has signed an agreement to acquire 100 percent of the shares of Arlight based in Ankara, Turkey.Pays a price of 28 million euros, on a cash and debt free basis, for the entire share capital in Arlight, pending regulatory approval from the Turkish Competition Authority.Says the deal is expected to close in Q1 2014.Says an additional 7 million euros can be paid as earnout until 2015 tied to company performance.Says the transaction is financed with existing credit facilities.Says Arlight has 160 employees and manufactures lighting fixtures and solutions primarily for the indoor commercial sector. 

Company Quote

135.0
-5.75 -4.09%
11:29am EDT