Luceco plc (LSE:LUCE) is looking for acquisition opportunities in Mexico, India, Malaysia, and Vietnam. During the company?s results presentation for last year for 2023, William Hoy said that ?Our existing GBP 80 million bank facility, coupled with our covenant leverage ratio of just 0.6x, gives us capacity to explore more investment, both organic and through M&A?. Jonathan Hornby, said that ?Well, we've definitely done a lot of work on it.

I was in Vietnam yesterday. And we are doing a lot of work on it. I think we're going to probably start some light manufacturing in Mexico, where we have a very successful business now in Monterrey.

And as our U.S. business grows, with D-line and with other brands, we think that Mexico will be a good place to start some light manufacturing. And then we're working with M&A outfits, looking at acquisition opportunities in Mexico, in India, in Malaysia, and in Vietnam. So we're pretty cognizant of the China risk and all the perceived China wishes seems to be getting lots of attention currently.

And I think that we will do something. But the immediate news is that we are starting to do something ourselves from a greenfield perspective in Mexico. But we remain actively looking for acquisitions in other low-cost countries with manufacturing diversification.

And we spoke about wanting to buy a business with a brand operating in its domestic market, which we can grow, but also use as a China Plus One strategy?.