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Thursday 28 November 2019

CMP-represented equity fund acquires Selux AG

Berlin, Decem­ber 2019 – Selux AG, a long-stan­ding Berlin-based com­pany foun­ded in 1948, 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 exper­tise, 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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