Mid-market European private equity house Sherpa Capital has bought a majority stake in Spanish lighting company Luxiona.
The buyout house said it bought the stake from Aurica and Caixabank, as well as from the founding family, who will remain a minority shareholder in the company.
Luxiona generated more than €60m in sales last year through products across its technical illumination, emergency lighting, and public and decorative illumination segments.
Sherpa partner Jorge Fernández Miret said, “This acquisition represents a long-term consolidation project in a market with enormous potential for growth, where a leading operator such as Luxiona enjoys enormous competitive advantages.
“For us, this project is especially interesting because Luxiona has already been successful in the past developing a process of international acquisitions that we want to continue promoting in next years to create one of the leading businesses in the sector at the worldwide level.”
Spain-based Sherpa hit a €150m final close for its third institutional fund last year. The firm currently manages more than €250m.
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