Cavendish Corporate Finance advises on the successful sale of Lightech Electronic Industries Ltd to GE Lighting

Published September 19, 2011

Cavendish Corporate Finance LLP, is pleased to announce the sale of Lightech, a privately held, advanced lighting power supplies company based near Tel Aviv, Israel, to GE Lighting for an undisclosed amount.

Lightech, which was established in 1996 and currently employs 40 staff, specialises in providing LED electronic drivers and halogen transformers to the lighting industry, with operations across the globe. Lightech joins GE Lighting, a business that employs nearly 17,000 employees around the world, engaged in all aspects of lighting technology, research and development, engineering, manufacturing, sales and distribution to build on its strength in power supply design and system optimization. The addition of engineering capability enables GE to respond to the market need for complete systems and higher-performance drivers and control. In addition to building its own systems, GE will build on Lightech's market presence with OEMs.

Cavendish was appointed in June 2010 following the introduction of Lightech's latest range of LED specific power supply products. The Lead Partner was Joe Stelzer, Chief Operating Officer and Technology Partner at Cavendish. With a relevant background as a successful former Cavendish client, senior US corporate executive and latterly Technology M&A advisor, he was ideally placed to both understand the value of Lightech's product portfolio and also utilise his strong industry contacts at a senior level within the Lighting and wider technology sectors.

The deal demonstrates that with appropriate advisors, there is an active market for businesses with great technology that are capable of leveraged scale in the hands of a global player. Cavendish is ideally suited to support cross jurisdiction deals such as these that provide a synergistic exit for small but highly innovative businesses like Lightech.

Zvi SchreiberCEO of Lightech, said:

"GE Lighting is an innovative and well-respected business in the global lighting industry. Lightech and our employees are fortunate to be joining forces with a lighting business with such history and depth and whose vision is to grow our business and lead the lighting revolution in this period of great transformation in our industry. Cavendish introduced us to GE and managed the negotiation and coordinated the transaction due diligence. Their involvement was instrumental to the deal being successful."