Swinburne Maddison LLP and Clive Owen LLP have supported the expansion plans of a leading international lighting manufacturer.
County Durham-headquartered Artech Lighting has completed the successful acquisition of Keighley-based Powerlite Fitzgerald, further extending its coverage across the UK and strengthening its position across global markets.
Lead advisory services were provided by Michael Cantwell, Corporate Finance Partner at Clive Owen LLP, and Craig Malarkey, Corporate and Commercial Partner at Swinburne Maddison, who advised Artech Lighting throughout the deal.
Artech Lighting operates globally from its North East base, which utilises state of-the-art LED technology and specially-designed components to manufacture products and solutions and create industry-leading levels of quality, efficiency and performance.
Under the terms of the acquisition, both Artech Lighting and Powerlite Fitzgerald will continue to operate independently.
Commenting on the transaction, Michael Cantwell said: “Artech Lighting’s strategic acquisition of Powerlite Fitzgerald was an exciting deal to be part of, and I am delighted to have helped facilitate this successful transaction, bringing together two leading innovators across the lighting sector.
“The partnership presents significant opportunities that will build on the success of both businesses and their excellent reputations. I would like to wish Stuart all the very best in this latest evolution of Artech.”
Craig Malarkey said: “We are really pleased to have been able to support Stuart and Artech in bringing Powerlite Fitzgerald into the Artech fold and look forward to watching these two excellent businesses continue to flourish. This was a great transaction to work on and a pleasure to work with Stuart and Michael in achieving a great result for all parties.”
Stuart Hylton, Managing Director at Artech Lighting, said: “This is exciting for both Artech and Powerlite Fitzgerald, and we’re proud to be custodians of these industry disrupters.
“Both companies have solid foundations rooted in the industry, but this partnership allows us to build on our successes, increasing investment and opportunity for both parties, whilst continuing business as usual independently.
“When the opportunity to invest in Powellite Fitzgerald came along, it immediately made sense.
“Both are prominent names in lighting, and ones I’ve known since the start of my own career, so it’s come full circle to now be custodian of these recognised brands and this fantastic organisation.
“While we will share and instil best practice across both companies, there will be no ‘centralising’ of services – these are two separate businesses operating in different markets with an enviable set of in-house expertise, something we will be looking to build on in the coming months.”
