News & Views

Leading Australian lighting solutions company, Gerard Lighting, has reaffirmed its plans for growth following an agreement with a consortium led by Investec and Bain Capital Credit to assume full ownership of the business from CHAMP Private Equity.

The acquisition, led by two of Gerard Lighting’s long-standing investors, will ensure a strong and stable future for the business, significantly reducing debt levels and enabling the redeployment of capital towards growth opportunities across its key market segments. The consortium will invest new capital into the business as part of the agreement.

Gerard Lighting is the leading supplier in Australia and New Zealand of lighting solutions for the commercial, trade and residential markets, in addition to large-scale construction and infrastructure projects where it is well positioned to capitalise on the growing number of current and proposed infrastructure projects.

The company’s CEO, Les Patterson, said that the new ownership model was a clear vote of confidence in the business, both for its strong market position and its significant growth potential.

“Whether it’s at home or at work, in supermarkets, hospitals and sporting stadiums, or in parks and roadways, our well-known brands including PIERLITE™, SYLVANIA™, CROMPTON™ and DIGINET™ are an intrinsic part of peoples’ everyday lives,” he said.

Mr Patterson said it would be business-as-usual for customers, with no change to people, processes or operations under the new ownership model.

“We’ve made significant improvements over the past few years to get the business in the right shape, including investing in our people, systems, logistics and digital capability to put ourselves ahead of the curve and keep delivering for our customers across Australia and New Zealand,” he said.

“We’re delighted to extend the partnership with Investec and Bain Capital Credit – both of which share our vision for growth and will inject fresh capital into the business. We’re more than double the size of our next competitor and, with the support of the consortium, we’re well-placed to leverage our strong position in each of our key market segments,” Mr Patterson said.

The change of ownership is expected to result in changes to the composition of the Gerard Lighting Board, with new appointments to be announced in due course.