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Lumenpulse acquires Fluxwerx Illumination
Lumenpulse has acquired Fluxwerx Illumination, a privately owned Canadian pure-play specification-grade LED lighting solutions provider, for a total initial consideration of CAD 60 million.
Fluxwerx is a manufacturer of LED luminaires for the general lighting of commercial and institutional spaces, such as office, education and healthcare. "The merging of our organizations represents a major milestone that we believe will be transformational for the Lumenpulse Group, creating one of the most exciting and innovative companies in the LED lighting industry," said François-Xavier Souvay, President and CEO of Lumenpulse. "Fluxwerx has achieved impressive growth and market adoption by combining minimalist product design with an innovative, proprietary anidolic optical technology. In fact, they will be launching 3 new product lines late March. We see a great opportunity for cross-technology synergies that will provide a remarkable value proposition for our clients. We will also benefit from Fluxwerx's experienced management team, which shares our vision of becoming a world leader in the LED lighting market," concluded Mr. Souvay. "We have the utmost respect for what Lumenpulse has achieved over past few years. The company, through a combination of innovative technologies, its extensive product portfolio and strategic acquisitions has become a clear market leader and we are looking forward to joining forces as shareholders of Lumenpulse and active members of the executive team," said Tim Berman, President of Fluxwerx.
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