International lighting company Signify recently announced that it has entered into a definitive agreement with Eaton to acquire Cooper Lighting Solutions for $1,4-billion in cash. Closing is subject to regulatory approval and other customary conditions, and is expected to take place in the first quarter of 2020. Cooper Lighting Solutions, headquartered in Peachtree City, United States, is a leading provider of professional lighting, lighting controls, and connected lighting. The business offers a large range of products and applications, both in the indoor and outdoor segments, sold under renowned brands in North America including Corelite, Halo, McGraw-Edison and Metalux. The company sells its lighting portfolio through a strong agent network and has direct relationships with retailers, distributors and other end-users. The business generated $1,7-billion of sales in 2018, of which 84% were LED-based, a reported EBITDA of USD 187-million and free cash flow of USD 143-million.
Contact Nelisiwe Nkosi, Signify, Tel 011 471-6000, nelisiwe.nkosi@signify.com
