Triton to buy majority stake in Glamox from Arendals Fossekompani

The GP is buying the business from Arendals Fossekompani, a Norwegian electric power producer.

Pending anti-trust clearances, the transaction is expected to close by December 2017 at the latest.

Triton deployed capital from its fourth fund to acquire Glamox, the GP told unquote". Triton Fund IV held a final close in May 2013 on €3.3bn. The GP focuses on mid-market opportunities within the industrial, business services, consumer and healthcare sectors. It seeks to invest in businesses primarily in Germany and the Nordic region.

Company
Established in 1947, Glamox manufactures and supplies professional lighting. It operates on a three-pronged business model that includes manufacturing professional lighting for non-residential buildings in Northern Europe; supplying light fittings to the global marine and offshore markets; and handling orders, procurement manufacturing, warehousing and distribution.

The firm reported revenues of NOK 2.5bn in 2016 and an operating profit of NOK 263m.

For the first six month of 2017, it posted revenues of NOK 1.32bn, an operating profit of NOK 148m and net profit of NOK 110m.

The company employs 1,277 people, of whom half are based in the Nordic countries, 39% in the rest of Europe and 11% globally.

People
Triton – Peder Prahl (partner).
Glamox – Rune Marthinussen (CEO); Thomas Lindberg (CFO).

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• Topics
• Nordics
• Industrials
• Buyouts
• Norway
• Triton Partners