Italian lighting company, iGuzzini, has announced that it has signed a “…acquisition agreement for 70% of the assets of Sistemalux Inc. The Canadian company, based with its headquarters and production plant in Montréal, is expected to close 2017 with revenues of 30 million Canadian dollars. Through the acquisition, iGuzzini reinforces its presence on the North American market and completes its product range.”
The Folisi, an Italian-Canadian family, established Sistemalux in 1984 in Montreal. The company has a network of 54 distribution agencies, offices, and showrooms in Canada (Vancouver, Toronto, Quebec City) and in the United States (New York).
iGuzzini and Sistemalux have collaborated for more than 20 years as Sistemalux served as an iGuzzini distributor. The two companies’ collaboration expanded in 2007 with the joint venture of iGuzzini North America, of which iGuzzini was a 70% stakeholder partner and Sistemalux’s shareholders 30% partners. In 2010, iGuzzini North America continued its North American expansion into the United States with the opening of iGuzzini Lighting USA in New York, led by Salvatore Folisi.
“The acquisition of Sistemalux represents an excellent opportunity to reinforce our presence in North America–where we double the turnover–and improve the profitability and the penetration capability in this important market characterized by international specification, high technological standards and great growth potential,” said Andrea Sasso, CEO of iGuzzini illuminazione, in a prepared statement. “With this operation we further improve our capability of developing customized solutions for the North American market, establishing our position as a reference point for the high-end market characterized by technology and an architectural focus”.
Adolfo Guzzini, iGuzzini President said, “We are proud of this new agreement, which is not only an industrial arrangement but the natural evolution of a 20-year collaboration between the Guzzini and Folisi families. We share the same idea of a successful business model. A model which is based on the industry competencies, technology, design and attention to territorial marketing polices.”
Salvatore Folisi, CEO of Sistemalux, iGuzzini North America and iGuzzini Lighting USA said in the press statement, “Our family and all the employees of Sistemalux share the same values with all their partners This agreement marks a new important chapter of our growth trajectory. The lighting industry is rapidly evolving; most of all in terms of digitalization, and iGuzzini has the capabilities to perfectly integrate our know-how of the territorial dynamics, consolidated leadership and strong competencies in the sector”.
Established in 1959, iGuzzini Illuminazione is an International group operating in the architectural lighting sector with approximately 1,300 employees. Headquartered in Recanati, in the Marches region of Italy, iGuzzini is established in more than 20 countries across five continents. The company is known for its research, design, and production of indoor and outdoor lighting systems in collaboration with leading lighting designers, architects, planners, and research centres around the world.