Ambienta completes the acquisition of Collingwood Lighting

17th February 2021

Collingwood is a leader in the design, manufacture and distribution of energy- efficient LED luminaires in the UK and France, with a growing presence in other international markets.

 

Ambienta will support Collingwood to scale into a pan-European market leader in the fragmented LED luminaires market.

 

This acquisition marks the second investment by Ambienta in the UK in the last 12 months.

 

Ambienta SGR SpA (“Ambienta”), Europe’s largest sustainability-focused private equity investor, is pleased to announce the acquisition of Collingwood Lighting Technology Group (UK) (“Collingwood”), a market leading designer, manufacturer and distributor of LED luminaires for residential, landscape and commercial & light industrial applications.

 

Amongst many other benefits, LED lighting consumes less energy, has a longer lifespan and therefore requires less replacement and emits less CO2 emissions in comparison to other alternate lighting technologies such as halogen and fluorescent. LED lighting penetration has a long way to go with only an estimated c. 50% of lighting installations today in Europe using LED technology: with a substantial proportion of the existing installed lighting stock consisting of legacy, less- sustainable lighting technologies, there remains a significant benefit from continued LED substitution.

 

Headquartered in Sywell, Northamptonshire (UK), Collingwood is a pioneer in LED lighting having been one of the first in the UK to supply a range of purpose-built LED lighting products for the UK electrical wholesale market. Founded in 1901, throughout its long history Collingwood has built a brand reputation known for high product quality and reliability, strong design aesthetic and enhanced product features, whilst providing unmatched technical support and service to its customers.

 

Collingwood operates in the sizeable European LED luminaires market worth >£1.3bn across its current target geographies of the UK and France, markets underpinned by a number of structural growth drivers. The business has been able to capitalise on this market opportunity by maintaining and growing its market share position within its core residential and landscape segments, successfully developing and expanding its product range. Collingwood has also been successful in entering new end market verticals, such as commercial and light industrial applications.

 

Collingwood’s outstanding management team, led by Steve Grao, CEO, will retain a significant stake in the company. Ambienta’s partnership with Collingwood will enable the management team to pursue a combination of organic and inorganic growth initiatives with the strategic vision to create a pan-European market leader within LED luminaires.

 

Steve Grao, CEO of Collingwood, commented “I am proud of what Collingwood has achieved so far and I look forward to accelerating growth by taking advantage of the many growth drivers I see on the market, including acquisitions. I truly believe Ambienta, as the leading European Private Equity investor in sustainability, is the right partner to enable Collingwood to reach the next level.”

 

Matthew Norrington, Principal at Ambienta, commented “We are backing a first-rate and proven management team who have a clear strategic vision and strong ambition to transform Collingwood into a leading Pan European LED luminaires provider.”

 

Francesco Lodrini, Partner at Ambienta, commented “Collingwood fits perfectly with our strategy of supporting mid-sized companies backed by long-term sustainability trends to expand organically and through international M&A. This is the second acquisition completed by Ambienta in the UK in the last 12 months, further confirming our long-term commitment to a strategic region.”

 

Ambienta was advised by DC Advisory (M&A and debt advice), Alvarez & Marsal (financial, tax and operational), PwC (commercial and tax structuring), Osborne Clarke (legal) and Willis Towers Watson (insurance).

 

The deal was led for Ambienta by Mauro Roversi, Francesco Lodrini, Matthew Norrington and Ayan Ahmed.

 

 

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