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Castaldi Lighting is a leading Italian player in the lighting industry, providing solutions and systems for both indoor and outdoor applications – office buildings, public areas, retail and manufacturing spaces and special applications (white rooms, etc) – under the Castaldi and Norlight brands. Since 2006 the group was owned by Italian PE fund CNPEF (managed by Opera SGR since 2011).
Castaldi was founded in 2011 from the merger of Ing. Castaldi Illuminazione and Norlight, two historical companies in the lighting sector which, over the years, succeeded in winning a solid and recognized position respectively in the outdoor (Castaldi) and the indoor (Norlight) segment.
Castaldi sells both to the architectural channel and to large contract customers, especially in the Middle East where the Group has completed large scale projects. Currently it is working ay Abu Dhabi International Airport.
The group is headquartered in Northern Italy (near Varese), where the Company carries out production activities, employing ca. 110 people. Castaldi Lighting can already boost a very strong track-record of worldwide prestigious references such as The Ferrari World Park in Abu Dhabi, the Westminster University in London, the Cleveland Clinics and Marseilles Docks.
In 2016 Castaldi is expected to reach a total turnover of approximately €30 ml and a €5 ml EBITDA, thanks to the newly acquired large orders.
Ethica Corporate Finance advised the shareholders of Castaldi Lighting S.p.A. in the sale to Headway Capital Partners, the London-based private equity secondary firm specialized in small and mid-size secondary transactions, with an investment focus on Western Europe and North America.
This transaction represents the completion of over a year of cooperation with Private Equity investor Opera SGR. Ethica advised the sale of the 4 portfolio companies still remaining in their CNPEF fund.
Ethica was able to simultaneously structure and manage four competitive processes, involving both trade and financial buyers, and successfully allow the shareholders to maximize their exit value, while at the same time protecting the companies’ going concern by identifying and selecting new solid owners.
