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Thursday 28 November 2019

CMP-represented equity fund acquires Selux AG

Selux plans to sys­te­ma­ti­cally expand its posi­tion in sus­ta­inable ligh­ting solu­ti­ons in Europe and North Ame­rica by quickly inc­re­asing inno­va­tion.

In order to realize this ambi­ti­ous plan, Selux has bro­ught on a strong part­ner — an equity fund rep­re­sen­ted by CMP Capi­tal Mana­ge­ment Part­ners is assu­ming cont­rol of the glo­bally active spe­ci­alist for high-quality, effi­ci­ent, and well-desig­ned ligh­ting solu­ti­ons. Selux alre­ady casts light on major stre­ets, squ­ares, and places around the world, inc­lu­ding the famous 911 World Trade Center Memo­rial in New York City. The aim is to furt­her deve­lop their posi­tion as one of the leading com­pa­nies in the industry in the coming years. The head office will remain in Berlin, and the impor­tant pro­duc­tion site in Zachow near Ketzin (Bran­den­burg) will also remain open. Tho­usands of lights have alre­ady been pro­du­ced here, inc­lu­ding the famous Schup­mann can­de­labra stan­ding at the Bran­den­burg Gate. The sites in Miri­bel (France) and High­land, New York (USA), which have both been suc­cess­ful for over 30 years, will con­ti­nue to ensure the effi­ci­ent inter­na­ti­onal pro­duc­tion of Selux pro­ducts in their local mar­kets.

Selux is a cham­pion in its field”
When we were app­ro­ac­hed by the com­pany foun­ded by the Bans­bach family to form a part­ners­hip, we imme­di­ately recog­ni­zed that Selux is a cham­pion in its field. With its acti­vi­ties in Ger­many, North Ame­rica, France, Great Bri­tain, Sweden, Bene­lux, and Aust­ra­lia, Selux has a power­ful worl­d­wide pro­duc­tion and dist­ri­bu­tion net­work. At the same time, we see strong growth poten­tial for the global brand in many pro­mi­nent loca­ti­ons around the world. Using light as a cre­ative ele­ment in cent­ral loca­ti­ons in high-quality designs with outs­tan­ding tech­no­logy enric­hes our lives,” says Kai Bran­des, Mana­ging Direc­tor of CMP Capi­tal Mana­ge­ment Part­ners, which is also head­qu­ar­te­red in Berlin.

App­ro­val by the Fede­ral Cartel Office comp­le­ted – clo­sing has taken place
Exe­cu­tion of the cor­po­rate acqu­isi­tion was in the hands of Jan Dett­barn from CMP, who has also been a member of the Exe­cu­tive Board of Selux AG since mid-Novem­ber. We are ple­ased with the suc­cess­ful comp­le­tion of the tran­sac­tion. The purc­hase cont­ract is signed, the app­ro­val by the Fede­ral Cartel Office has been rece­ived, and the clo­sing — the ful­fil­ment of all cont­rac­tual terms — has taken place. This means secu­rity for the emp­lo­yees, cus­to­mers, and part­ners as well as for the supp­li­ers.”

The com­pany gene­ra­ted app­ro­xi­ma­tely 85 mil­lion euros in sales last year and emp­loys around 400 emp­lo­yees worl­d­wide, inc­lu­ding 190 in Ger­many. In Octo­ber 2019, a recon­ci­li­ation of inte­rests and a redun­dancy plan were agreed on with the Gene­ral Works Coun­cil. Accor­ding to these agre­ements, there will be limi­ted staff adjust­ments by the end of the year to inc­re­ase effi­ci­ency, par­ti­cu­larly in the admi­nist­ra­tive area. As part of the plan to drive inno­va­tion, invest­ments in the amount of seve­ral mil­lion euros will be made in new intel­li­gent pro­ducts and the digi­tal net­wor­king of the inter­na­ti­onal pro­duc­tion sites. Spe­ci­fic focus is on the Berlin site and the Zachow pro­duc­tion site as well as the expan­sion of the sales offi­ces in Europe and North Ame­rica.

Klaus-Peter Siems­sen returns to Selux as CEO
After some dif­fi­cult but const­ruc­tive nego­ti­ati­ons, and des­pite some staff chan­ges, we in the Gene­ral Works Coun­cil are looking opti­mis­ti­cally to the future; espe­ci­ally with regard to Klaus-Peter Siemssen’s return. As in pre­vi­ous years, we can con­ti­nue to count on the ex-per­tise, devo­tion, com­mit­ment, and loyalty of our emp­lo­yees into the future. Toget­her we look for­ward to buil­ding a rela­ti­ons­hip that ensu­res we con­ti­nue to supply our cus­to­mers with sop­his­ti­ca­ted ligh­ting solu­ti­ons,” exp­la­ins Robin Hübner, Pre­si­dent of the Gene­ral Works Coun­cil of Selux AG.

Retur­ning to his former domain, Klaus-Peter Siems­sen will take over the leaders­hip of Selux AG as CEO on 1 Janu­ary 2020. Siems­sen pre­vi­o­usly held this posi­tion from early 2010 until the end of 2014. Selux is a strong brand. We realize sop­his­ti­ca­ted and sus­ta­inable ligh­ting solu­ti­ons with the most famous desig­ners and arc­hi­tec­tu­ral offi­ces around the world. To have the oppor­tu­nity to imp­le­ment the vision of a strong, inter­na­ti­onally active Selux with CMP and the global team is a chal­lenge I very much look for­ward to. Beca­use of their dura­bi­lity, our pro­ducts have a very spe­cial res­pon­si­bi­lity — they shape the urban space and the­re­fore our cul­ture, as well as impact people. Part­ners­hip is cru­cial in this con­text; we can only achi­eve these ext­ra­or­di­nary results as a team. I want to deve­lop new things with the dedi­ca­ted team. In the future, with their exper­tise, we will be able to ensure the well-being of people and put very spe­cial places around the world in the best light. With this great foun­da­tion, we will be able to con­ti­nue to create many highly-regar­ded ligh­ting ins­tal­la­ti­ons toget­her with our cus­to­mers, ligh­ting desig­ners, and arc­hi­tects,” says Siems­sen. After all, it’s part of the DNA of Selux to create pro­duct inno­va­ti­ons and to offer ever more capable ligh­ting solu­ti­ons. The market thinks long-term, and in addi­tion to high-quality light and an effi­ci­ent, time­less design, first-class work­mans­hip is called for. Finally, the indi­vi­dual ligh­ting pro­jects reali­zed by us should do one thing above all — work reli­ably for deca­des to delight people.”

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