AB Fagerhult, the largest lighting company in the Nordic countries has signed a Letter of Intent (LOI) with the shareholders of iGuzzini, an Italian lighting group, to acquire 100 percent of the shares of iGuzzini.

(Image: Fagerhult)

Based on this LOI, Fagerhult has exclusivity to conduct a customary due diligence and is targeting signing a Share Purchase Agreement before the end of 2018. The finalizing of the transaction will be subject to Fagerhult board approval and any anti-competition approvals that may be required. The transaction will be funded from a combination of debt finance and a new rights issue in Fagerhult shares.

With the acquisition of iGuzzini, the Fagerhult Group's position in the professional lighting market will be strengthened. The Swedish company will gain significant impacts with its increased geographic presence and the complementary product ranges of iGuzzini.

iGuzzini is a well-known professional lighting brand specializing in architecture lighting. Founded in 1959 in Recanati, Italy, the company designs, manufactures and markets professional lighting solutions for both the indoor and outdoor application areas.