Lightech / General Electric
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.
We made absolutely the right choice in appointing Cavendish. Michael Jewell and the team were instrumental in getting us the deal we wanted. I would have no hesitation in recommending them to anyone thinking about a sales process.
Cavendish introduced us to GE and managed the negotiation and coordinated the transaction due diligence. Their involvement was instrumental to the deal being successful.
When looking for an advisor we decided we wanted someone who had specific experience in negotiating within the Private Equity space. It requires some additional skills to those needed in a trade sale and we were lucky to have found in Cavendish, a company that was able to help us.
This marks a significant opportunity for our partners, customers and people as we become part of the global Kyocera family and continue the journey we started back in 1988. When looking for an advisor we wanted someone with an international network and experience of working with buyers both here and overseas. Cavendish had the expertise to facilitate the transaction and the support they provided was invaluable.
The Cavendish team, led by Nick Jones, did an excellent job managing the process and ensuring the smooth closing of the transaction in a timely manner. They were always professional and aligned with our shareholder goals – many thanks to the whole team.
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