Sherpa Capital buys Luxiona

Sherpa bought a 20% stake from Aurica Capital – the private equity arm of Spanish lender Banco Sabadell It also bought 20% from Criteria Caixa, and a minority from the company's founders and majority shareholders, the Tey de la Pena and Maso families, who will retain the remaining holding in the business.

Previous funding
Banco Sabadell acquired its stake in Luxonia via its fund Aurica XXI (prior to Aurica's spin-out from the bank in 2015), and Criteria Caixa acquired its stake through the acquisition of Spanish bank Corporación Caja. Aurica and Corporación Caja acquired a 20% stake each in Luxiona in 2008.

According to press reports, Luxiona filed for pre-insolvency with a court in Barcelona in 2013 and went through a restructuring process.

Company
Established in 1929 as J Feliu de la Pena and rebranded in 2011, Canovelles-headquartered Luxiona specialises in designing and manufacturing lighting products under the brand names Troll, Metalarte, Sagelux and Josfel. The company employs 500 staff and generates annual revenues of around €56m, of which 70% come from outside Spain. Luxiona has subsidiaries located in France, Germany, Poland, China, Mexico, Peru and Chile.

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Spain