Global M&A Deal in the Spotlight

November 2005

A Manchester-based company, Whitecoft Lighting, which specialises in designing, manufacturing and marketing lighting for the UK commercial, retail and public sector buildings has been acquired by Swedish listed company Fagerhult.

Fagerhult, founded in 1997, is the market leader in the Nordic Countries and has a clearly-defined strategy of expanding outside its core Scandinavian markets. Its long-time corporate finance advisers Arctos, the Swedish Global M&A partner, enlisted the help of Livingstone to identify relevant UK-based targets and lead the negotiations.

Whitecroft Lighting was acquired several years ago in a management buy-out backed by H2 Equity Partners, a Dutch private equity house. The Fagerhult deal values Whitecroft at up to £21million.

Per Borgvall, CEO of Fagerhult, commented that “Livingstone provided a tremendous level of value and hands-on support for this transaction - essential, since we could not be ‘on the ground’ in the UK at all times. Their approach was pro-active and commercial, focused on achieving the best deal for our longer-term objectives, and his willingness to go the extra mile meant we were able to complete this complicated cross-border transaction in only two months.”

Daniel Domberger, the Deal Leader at Livingstone who led the acquisition, says: “This was truly an international deal, involving parties in three countries, brought together by the Global M&A partnership to complete a cross-border deal of compelling strategic rationale in an extremely tight timescale.”

Daniel Domberger, Deal Leader
Tel: 020 7484 4731
Email: ddomberger@livingstonepartners.co.uk