Lumenpulse is buying Projection Lighting in a £16.6 million deal.

This will mean that the Canadian company will be expanding in to British retail.

The £16.6 million deal includes approximately £2.9 million in working capital. Approximately 50 new employees will join Lumenpulse from Projection as part of the transaction.

Revenues for Projection Lighting in 2013/14 reached £11.3 million. The founder and CEO of Projection Lighting will step down and serve as an advisor.

President and CEO at Lumenpulse, François – Xavier Souvay, said:

We are pleased to join forces with a reputable player in the LED lighting industry. We were drawn to well-designed, versatile and high-performance products, which are in line with the Lumenpulse philosophy. We will also welcome an experienced management team with deep industry knowledge.

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