Osram are in the process of acquiring, entertainment lighting manufacturer Clay Paky.
Osram is looking to move in to the entertainment lighting sector because of the appealing market growth rates.
Clay Paky is privately owned and recently generated annual sales of more than €60 million (£47.8 million). When Clay Paky becomes part of Osram their head office will remain the same and they will be keeping all of their staff in their current positions.
Clay Paky will become part of Osram’s Speciality Lighting division which covers automotive lighting as well as display and optic lighting.
Founder and President of Clay Paky, Pasquale Quadri, said: “I am delighted to be able to offer my company, my staff and our customers a reliable solution for a secure future. Osram plans that Clay Paky will maintain its independence to a large extent in day-to-day business.”
A spokesman for Osram said: “Clay Paky is located in a segment which, up to now, has not been immediately covered by Osram. The progressive integration of further steps of added value is one element of the Osram strategy and is reflected in this acquisition. Synergies can be found in Osram’s technology and process competencies which will support Clay Paky’s further growth. Due to many years of specialisation since 1976, Clay Paky has developed extensive special knowledge and high customer loyalty. This leads to an advantage in efficiency when compared to an organic market entry. By acquiring Clay Paky, we establish Osram as one of the leading players in the professional entertainment lighting business.”