Lighting up the market

A Queen's Award-winning lighting company which employs approximately 120 staff and has worked on high-profile projects around the world has been acquired by an Austrian giant.

International lighting corporation Zumtobel Group has bought a majority holding in acdc, a Lancashire-headquartered supplier of high-end LED lighting systems with a focus on the architectural façade and hospitality segments.

The Barrowford business, which posted sales of about £10m in 2014, is led by long-term chief executive and majority shareholder Gareth Frankland who will continue to head the brand and drive forward its development within the Zumtobel Group.

Key markets for acdc are currently its domestic UK market and the Middle East, along with a selective presence in other European countries and the US, but Zumtobel believes there is huge growth potential for the brand, particularly through the Austrian group's  sales organisation which currently encompasses about 1,750 sales staff.

"Joining the Zumtobel Group represents an important milestone for us on our path to further growth and the global development of acdc," said Frankland.

"As part of the Zumtobel Group, we will benefit from a worldwide sales network and from the benefits of a global and group-wide purchasing organisation. In addition, we see technology and development synergies and I will continue to rely on the knowledge, experience and the dedication of our employees for the further development of acdc within the Zumtobel Group."

Gareth Frankland was advised on the sale by Hamish Morrison of BHP Corporate Finance and Richard Moran and Rachel Dean at Clarion.

Hamish Morrison said: "acdc is a great success story of a business that has been at the forefront of global innovation within its sector for a significant period of time. This deal represents a great fit for both parties and I am sure will see the business continue to grow and go from strength to strength."

Richard Moran added: "It was good to be able to work with acdc in delivering this transaction and help it to prepare for its next phase of growth."

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