Signify Has Acquired Cooper Lighting Solutions

The acquisition positions Signify to expand its growth in the North American lighting market.


https://facilityexecutive.com/2020/03/signify-has-acquired-cooper-lighting-solutions/
The acquisition positions Signify to expand its growth in the North American lighting market.
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Signify Has Acquired Cooper Lighting Solutions

The acquisition positions Signify to expand its growth in the North American lighting market.

Signify Has Acquired Cooper Lighting Solutions

Signify has completed the acquisition of Cooper Lighting Solutions from Eaton. The transaction strengthens Signify’s market position and better positions the company to capture growth in the North American lighting market. Signify is a global leader in lighting for professionals and consumers and lighting for the Internet of Things. The company’s Philips products, Interact connected lighting systems, and data-enabled
 services aim to deliver business value and transform buildings and public spaces.Signify

Eric Rondolat, CEO of Signify, said, “We’re very excited to welcome Cooper Lighting to Signify and to start working together. Since the announcement of the transaction on October 15, the teams have been working hard to prepare the integration plans and are now ready to move fast to realize the synergies. Together, we will drive innovation, advance in connected lighting and systems, creating significant value for our customers. And it will give us the scale and operational efficiencies to make our offerings even more competitive.”

Cooper Lighting Solutions President, Kraig Kasler, said, “We could not be more excited to officially become part of the world leader in lighting. Bringing together two businesses that share a vision on where the industry is headed and a purpose to drive sustainable growth in North America and beyond, will result in significant benefits for our customers, our employees and all our stakeholders.” Kasler will continue to lead the Cooper Lighting Solutions business unit within Signify.

Signify acquired Cooper Lighting for US$1.4 billion on a cash and debt-free basis. Cooper Lighting, based in Peachtree City, GA, Unite generated¹ EUR 1,477 million of sales, Adjusted EBITA of EUR 150 million and EBITA of EUR 165 million in 2019.

1 Based on standalone carve-out financial information

Interested in Signify’s offerings? Check out one recent introduction, the company’s Lifi system —Trulifi introduced in 2019.

Suggested Links:

  • Eaton Joins Smart Cities Council With this collaboration, the company will bring its connected lighting expertise to critical smart city stakeholders.
  • Eaton And Enlighted Form Collaboration The new partnership will deliver connected lighting for smart commercial and industrial buildings, rapidly accelerating adoption of the Internet of Things.
  • Interact Office By Signify This Q&A describes the components of the Interact Office connected lighting system, and the applications for facility management.

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