Houlihan Lokey Advises Clessidra

Houlihan Lokey is pleased to announce the sale of L&S, a portfolio company of Clessidra Private Equity SGR (Clessidra), to EMK Capital. The transaction was closed on 29 July 2024.

Founded in 1977 and headquartered in Maron di Brugnera, Pordenone, Italy, L&S is a leading global player in the design and production of bespoke and technological integrated LED lighting systems and solutions for residential, industrial, and commercial applications. L&S’ main clients include renowned furniture manufacturers and distributors, shopfitters, retail brands, and elevator, escalator, and appliance providers. L&S employs approximately 500 people and operates six manufacturing facilities in Italy, Germany, China, and the U.S., serving more than 70 countries worldwide.

Following Clessidra’s acquisition in 2019, L&S continued and accelerated its successful growth path, reinforced its management team through selected hirings, accelerated the innovation of its product portfolio, successfully implemented significant operational improvements, reinforced the core residential business with two strategic acquisitions in Italy, and strengthened the international development of the business. In FY2023, L&S reached c. €120 million in sales.

EMK Capital is a U.K.-based private equity fund. Together with L&S’ excellent management team, it will continue supporting the company’s trajectory of innovation and leadership.

Houlihan Lokey acted as financial advisor to Clessidra. The transaction demonstrates Houlihan Lokey’s expertise in the home furniture sector, as well as working closely with financial sponsors for successful exits.

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