ROME, June 13 (Reuters) - Italian private equity firm Clessidra SGR said on Thursday it had signed a deal to buy 80% of L&S Group, a leader in the interior lighting sector.
The acquisition is expected to close in July, Clessidra said in a statement.
Italy’s design industry is attracting increasing interest from funds which have the firepower to help firms compete globally.
Founded in 1977 in north-eastern Italy, L&S produces and distributes lighting solutions and built-in LED systems for homes and businesses, including store networks.
With plants in Italy, Germany, China and the United States, L&S had sales of 80 million euros last year, 75 percent of which were abroad.
Mediobanca acted as Clessidra’s financial adviser and UBI Banca as joint-financial adviser. Alantra advised L&S. (Reporting by Elisa Anzolin, writing by Francesca Piscioneri, editing by Valentina Za)