European buyout firm Cinven has reached an agreement with HgCapital to acquire SLV Group, a Übach-Palenberg, Germany-based provider of lighting products.
The transaction, whose amount remained undisclosed, is still subject to approval of antitrust authorities. It is designed to help the company further accelerate its internationalization.
Founded in 1979 by Franko Neumetzler, and led by CEO Detlef Harms, SLV provides innovative residential and technical lighting products for indoor and outdoor use. The company operates subsidiaries and associated companies in Germany, France, Italy, Belgium, Switzerland, Hong Kong, the US and Russia and markets its products through resellers in over 60 countries across the world and does not sell directly to end users.