Fagerhult wants to take over iGuzzini
The Swedish lighting manufacturer Fagerhult from Habo has signed a letter of intent on 15th October to take over......
the Italian lighting manufacturer iGuzzini from Recanati. The transaction is expected to be completed in 2018.
The sellers (the Guzzini family, represented by their legal advisor) receive a substantial portion of the sales value in Fagerhult shares with the aim of becoming shareholders in the new combined entity.
Adolfo Guzzini (President of iGuzzini) and Andrea Sasso (CEO of iGuzzini), in addition to their current leadership roles within iGuzzini, will take on key roles in Fagerhult's top management.
iGuzzini had a turnover of approx. EUR 230 m in 2017; Fagerhult had approx. EUR 500 m in the same period.