Building on its growth momentum through the acquisition of front-runners, Legrand (Paris:LR) today announced the purchase1 of Focal Point, strengthening solid positions in specification-grade architectural lighting solutions for commercial buildings in the United States.
Focal Point is a front-runner in the United States for specification-grade architectural lighting for non-residential buildings – including hospitals, schools and universities, offices and more – and offers customized solutions, in particular for renovation. It has built a solid reputation, driven by innovation, customer service, and a wide network of partner lighting agents.
Based in Chicago, Illinois, Focal Point has over 750 employees and annual sales of more than $200 million, primarily in the United States.
Following the acquisition of Pinnacle Architectural Lighting in 2016, OCL and Finelite in 2017, and Kenall in 2018, this operation1 will strengthen Legrand’s leading US positions in lighting controls and solutions, with a range of specification-grade architectural and mission-critical applications in commercial buildings, energy-efficient lighting management systems, and innovative connected solutions.
Key financial dates:
2020 first-quarter results: May 7, 2020
“Quiet period2” starts April 7, 2020
General Meeting of Shareholders: May 27, 2020
Ex-dividend date: June 1, 2020
Dividend payment: June 3, 2020
2020 first-half results: July 31, 2020
“Quiet period2” starts July 1, 2020
Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for commercial, industrial and residential markets makes it a benchmark for customers worldwide. Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing its strategy of profitable and sustainable growth driven by acquisitions and innovation, with a steady flow of new offerings—including Eliot* connected products with enhanced value in use. Legrand reported sales of over €6.6 billion in 2019. The company is listed on Euronext Paris and is notably a component stock of the CAC 40 index.
(code ISIN FR0010307819)
*Eliot is a program launched in 2015 by Legrand to speed up deployment of the Internet of Things in its offering. A result of the group’s innovation strategy, Eliot aims to develop connected and interoperable solutions that deliver lasting benefits to private individual users and professionals.
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1 Subject to standard conditions precedent.
2 Period of time when all communication is suspended in the run-up to publication of results.
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