Lumileds to Sell Its Lamps and Accessories Business to First Brands Group
2024年5月17日 - 11:00PM
ビジネスワイヤ(英語)
Lumileds will focus on its LED and MicroLED
innovation and leadership in the automotive, general illumination,
display, and flash markets
Lumileds, LLC, one of the world’s leading LED manufacturers and
solution providers for the global automotive, illumination,
display, and flash markets and First Brands Group, LLC (“First
Brands”), a global automotive parts manufacturer that serves the
worldwide automotive aftermarket, have entered into an agreement
for First Brands to acquire the Lamps and Accessories business of
Lumileds for $238M. Under First Brands, the Lamps and Accessories
business will continue to expand its global offerings and position
its products and leading brands in the automotive accessories
sector.
“The automotive OEM lighting go-to-market synergies and
conditions that made the union of Lumileds and Philips automotive
lighting business so compelling nearly a decade ago have changed as
transportation manufacturers have adopted LEDs as their standard
light source and traditional automotive light sources have
transitioned to primarily an automotive aftermarket business,” said
Steve Barlow, Lumileds CEO. “Our Lamps and Accessories and our LED
businesses are industry leaders in their respective markets and
will be free to focus on the ongoing growth of their unique brands,
channels, and customers.”
The sale is expected to close in the 2nd calendar quarter of
2024.
As part of the acquisition, Lumileds automotive lamps factories
in China, Germany, and Poland will transfer with the Lamps and
Accessories business. Lumileds will retain its factories and sites
in The Netherlands, United States, Malaysia, Singapore, Germany and
Jiaxing, China.
Citi acted as financial advisor and DLA Piper acted as legal
advisor to Lumileds.
About Lumileds
Lumileds is a global leader in OEM and aftermarket automotive
lighting and accessories, camera flash for mobile devices,
MicroLED, and light sources for general illumination, horticulture,
and human-centric lighting. Our approximately 5,500 employees
operate in over 30 countries and partner with our customers to
deliver never before possible solutions for lighting, safety, and
well-being. Learn more at https://lumileds.com.
About First Brands
First Brands™ is a global automotive parts company that
develops, markets and sells premium products through a portfolio of
market-leading brands that offer best-in-class technology,
industry-leading engineering and manufacturing capabilities, and
superior customer service.
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version on businesswire.com: https://www.businesswire.com/news/home/20240517286856/en/
For further information, please contact: Willem
Sillevis-Smitt Lumileds LLC (408) 204-9258