Whitecroft Lighting are pleased to announce that the Company has been acquired by Fagerhult AB of Sweden.The Fagerhult Group is one of Europe's leading lighting companies with annual sales of €170m (£115m) million employing 1,200 people. Their strategy is to be among the top three Lighting Systems providers in Europe through profitable growth and acquisitions.
Whitecroft Lighting has been a private independent business since a management buy-out in 2000. Whitecroft has a sales turnover of approx £30m and employs 280 people. The business has a healthy profit, growth momentum and a well established position in the UK market.
Whitecroft will operate as an independent business within the Fagerhult Group with the same management team and continuing under the Whitecroft brand from their Ashton under Lyne base, near Manchester.
"As a member of the Fagerhult Group this allows us to continue to invest and strengthen our market position", says Paul Barton, Whitecroft's Managing Director. He adds "Fagerhult is one of the Europe's leading lighting companies and this is a tremendous fit for Whitecroft in every respect. We will continue to build on our brand and market position in the commercial, healthcare, education and retail sectors."
