Light shines on Lucy with Zodion deal

February 2011

Livingstone Partners’ Industrial sector team has advised the Board of Hallmark Industries (‘Hallmark’) on the sale of non-core subsidiary business Zodion to W Lucy Limited (‘W Lucy’). Hallmark is an investee company of trans-Atlantic private equity firm MML Capital Partners.

W Lucy, based in Thame, Oxfordshire, is a successful privately-owned engineering company with a presence in Dubai, India and Saudi Arabia and a network of agents and partners covering over 50 countries worldwide. It trades through two principal business divisions; Lucy Switchgear, a manufacturer of electrical distribution systems, and Lucy Lighting, a manufacturer of streetlighting equipment.

Zodion is seen as a good fit within Lucy Lighting and will compliment and enhance the supply of high quality products spanning the top and bottom of a street lighting column. Post-completion Zodion and Lucy Lighting will continue to operate as separate businesses but the closer ties will help both companies to operate more effectively.

Brian Kent, Chairman of Hallmark, commented: “We are delighted to have completed this transaction, and thank Livingstone for the invaluable help and advice they have provided throughout the process. Zodion has been extremely successful for us and we are pleased to have found a good home for the business in Lucy.”

Alex John, Deal Leader at Livingstone Partners, said: “We identified W Lucy as a successful, cash-rich company looking to bolster their presence in the UK streetlighting market through acquisition. Zodion has good relationships with its local authority, OEM and streetlighting contractor clients and hence represents an exciting platform.”

“Zodion has performed extremely well in recent years as it has successfully developed a portfolio of lighting control products designed to maximise energy efficiency and reduce carbon emissions for local authorities. This is particularly relevant given recent primary legislation which incentivises major energy consumers to reduce usage through a carbon trading scheme” added James Lever, Partner at Livingstone Partners.

For further information contact:
Alex John, Deal Leader
Tel: 020 7484 4712
Email: john@livingstonepartners.co.uk

James Lever, Partner
Tel: 020 7484 4711
Email: lever@livingstonepartners.co.uk