A Chinese consortium that is consisted of investor IDG Capital, lighting company MLS Co., Ltd. (MLS) and financial investor Yiwu State-Owned Assets Operation Center (Yiwu) have finally acquired LEDVANCE on last Friday, March 3rd, 2017. Its economic effect started on the 1st of March, 2017.
Source: IDG Ventures
Source: MLS Co., Ltd.
Dr. Olaf Berlien (Osram), Antony Yu (IDG), Sun Qinghuan (MLS) und Jes Munk Hansen (Ledvance)
Source: DuMont Mediengruppe, Köln
According to Jes Munk Hansen, the CEO of LEDVANCE, “We are very pleased with this transaction, as MLS and LEDVANCE complement each other in an ideal way. Through MLS, we gain access to very cost-efficient and powerful LED components and will strengthen our market presence in Asia, especially in China. This supports the LEDVANCE strategy to expand our product portfolio, foremost in the areas of LED lamps, LED luminaires and Smart Lighting. We look forward to pursuing the many new opportunities that the partnership with MLS brings.”
Source: LEDVANCE
LEDVANCE provides consumers with general lighting products for professional and retail use.
Antony Yu, a partner from IDG Capital, said, “It is great to be part of this exciting acquisition, as it brings together a leading Chinese LED manufacturer and a German lighting company with over 100 years of experience, strong brands, proven technology and international sales channels. What drives us as the majority owner within the investment consortium, is to leverage our global invest- ment expertise and resources to help Chinese companies and long-established compa- nies from developed markets make the most out of their joint market potentials.“
While MLS Chairman, Sun Qinghuan, added, “We are really looking forward to working together with our colleagues at LEDVANCE. The wealth of experience and qualifications of LEDVANCE’s management team and employees provides a strong basis for collaboration. We will be working closely together in order to strengthen our position as leaders in the global lighting market.”
All parties involved will be able to benefit with larger sales and a better distribution network. With MLS, LEDVANCE will gain an access to cost-efficient LED components while MLS will be able to benefit from the company’s great international market presence. As for the US and Canadian market, LEDVANCE will still be known as SYLVAN while it will still use OSRAM as the company’s brand name in other countries.
Source: LEDVANCE
