3i invests €120m in Lampenwelt

Under its new ownership structure, the business will continue with its existing plans to develop a new warehouse in Schiltz, near Frankfurt. It will also look to undertake an international expansion strategy, with a particular focus on the European market, and invest in the development of its online platform.

As part of the deal, Jochen Wilms – formerly of Bertelsmann, Schüco and Grohe – will take on the role of executive chairperson and has also invested. Current co-owner and board member Walter Neumüller will retain a stake in the company, as well as maintaining his place on the Lampenwelt board.

3i has agreed to provide a €54m loan to support the deal, which is due to be refinanced shortly after the transaction completes.

The transaction took place via an off-market process, with 3i saying in a statement that it had been following the company for several years.

The deal is subject to regulatory approvals.

Company
Founded in 2004 and headquartered in Schiltz, near Frankfurt, Lampenwelt is a producer and retailer of lighting systems. The business distributes own-brand and third-party products across 12 countries.

Lampenwelt generated revenues of €61m in 2016, according to a statement issued by the GP, of which 45% came from exports.

People
3i – Peter Wirtz (managing director).
Lampenwelt – Thomas Rebmann (CEO).

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