FW Thorpe Buys Stake In Holland's Lightronics For EUR7.8 Million

Thu, 02nd Apr 2015 07:49

LONDON (Alliance News) - Lighting systems company FW Thorpe PLC on Thursday said it has struck a deal to acquire a 65% stake in Dutch lighting systems and controls company Lightronics Participaties BV, a deal it expects to boost its earnings in the first full year of ownership.

FW Thorpe will pay an initial consideration of EUR7.8 million to acquire the stake, with a fixed commitment in place to buy the remaining 35% stake in Lightronics between the third and sixth years after the acquisition.

"This acquisition enables FW Thorpe to widen its distribution of products and technology in Europe as well as build upon what has been a consistently successful business in its own right for a number of years," said Andrew Thorpe, FW Thorpe's chairman.

Shares in FW Thorpe were untraded Thursday, having last traded at 147.50 pence.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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