Mark Joffe
Principal investment firm Global Capital and Investec Australia Limited (Investec) yesterday announced the completion of an investment into emergency lighting designer, manufacturer and distributor, Evolt, as it acquired Atom Lighting, a Queensland-based distributor of LED lighting products.
Established in South Africa in 1995, Global Capital recently established a partnership with Investec’s Australian operations. Global Capital manages various funds on behalf of institutional and select private investors including Investec as a significant investor.
Managing Director of Evolt Joel Moss said: “The acquisition of Atom Lighting significantly strengthens our position in the lighting market. The acquisition provides us with the opportunity to offer our customer base an extended product range featuring the latest trends in lighting fixtures and components. Going forward, we will seek out further bolt-on acquisitions to grow our presence in this fast evolving industry”.
As the LED lighting sector becomes more competitive, technology and innovation will be a key point of difference. Evolt has a strong research and development capability which it intends to introduce to Atom’s product range to profit from the increasing demand for energy efficient and ‘smart’ products.
Bradley Hill, Investment Director of Global Capital Australia said the investment in Evolt reflects the strong growth opportunities the firm has identified in the general lighting and emergency lighting market.
“As an established player in the market, Evolt and Atom fit in well with the strategy of targeting companies that offer an annual income stream and capital growth potential. Evolt is backed by an experienced CEO with a strong pedigree in the industry. With our investment, Evolt is now well placed to grow and further diversify its business.”
Mr Hill said the firm would pursue further investment opportunities in the mid-market space over the coming months. “We will continue to seek out propositions that fit our investment objectives. We adopt a long-term investment approach, backing existing management teams.”
Mark Joffe, Head of Direct Investments at Investec said the company was optimistic about the potential scope of deals of this nature in the domestic market.
“The investment in Evolt is reflective of Investec’s philosophy of supporting and growing entrepreneurial businesses. We are also very excited about partnering with Global Capital which reaffirms our commitment to the Australian market and the opportunities we see in the mid-market space,” said Mr Joffe.
