L&S Lighting spa, a company specializing in lighting solutions and systems for the furnishing and furniture industry, controlled by Clessidra Private Equity through the Clessidra Capital Partners 3 fund, has announced the acquisition of control of Forma e Funzione srl, also active in the lighting sector for furniture and household appliances.
The transaction provides for the acquisition by L&S of 100% of the shares in Form and Function and will see the current shareholders re-invest, together with Clessidra, in the parent company with a minority stake, maintaining their current managerial roles.
Andrea Ottaviano, CEO of Clessidra Private Equity SGR, said that "with this new operation we further consolidate our presence within the lighting industry, a sector characterized by significant growth prospects linked both to an increasing attention to the light that excites but also to sustainability and energy savings. Today, with the L&S group and the integration of Forma e Funzione, we continue our strategic path that aims at enhancing successful Italian companies on foreign markets, accompanying them in a new phase of growth and development ".
L&S strengthens its presence globally
The integration of Forma e Funzione leads the L&S Group, which today has over 500 employees worldwide, 5 global production centers in Italy, Germany, China and the United States, to exceed 130 million euros in consolidated turnover at the end of 2022, 75% of which achieved thanks to exports.
Form and Function, a company founded in the 1960s, with headquarters and plant in Varese and exports to more than 40 countries, has established itself as a reference point in furniture, thanks to its consolidated experience and a range of lighting products characterized by solutions of design and a careful selection of technologies, materials and finishes.
"With this transaction, - says Luciano Iannuzzi, Director of L&S and Operating Managing Director of Clessidra Private Equity - L&S strengthens both its presence on a global level and relationships with customers of primary standing in the furniture, retail and of the household appliance, to which we offer unique and innovative solutions to enhance their collections ".
Customized lighting solutions
The development plan of the L&S Group aims at growth on the domestic and international market, with synergies both in the innovation of products and lighting systems, and through the sharing of best practices and technological know-how and the ability to propose customized lighting solutions with a network of customers made up of the most important brands in the furniture sector.