KWM assists financial sponsor owned GLG on sale of major lighting brands

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King & Wood Mallesons (KWM) has advised Gerard Lighting Group (GLG), one of Australia's biggest lighting companies, on the sale of two of its major lighting brands, "Sylvania" and "Austube", to Belgian multinational, Schreder. GLG is owned by funds managed or advised by Investec and Bain Capital Credit.

The leading brands will be integrated into Schreder's existing portfolio, making them a major player in the Australian lighting industry. With the sale of these divisions, GLG retains ownership of its brand, Pierlite, which manufactures industrial and commercial lighting systems.

The KWM team advising GLG on the sale was led by Partners Matthew Coull and Mark McNamara, with support from Senior Associates Mark Vanderneut and Melissa Miller, together with Solicitors Emma Warner and Jason Chow.

Commenting on the deal, Matthew Coull said: "We are delighted to have worked with GLG and its owners, Investec and Bain Capital Credit, on the sale of these prominent Australian brands. The acquisition of the Sylvania and Austube brands by Schreder aligns to the strategic objectives of both GLG and Schreder and the successful closing of the deal in the current environment owed a great deal to the on-going co-operation between all parties involved."

KWM is continuing to execute complex transactions despite the COVID-19 pandemic. Commenting on the current climate, Mark McNamara said: "The successful closing of the Gerard Lighting divestment, in addition to the recently announced acquisition of the Ravenswood Gold Mine by EMR Capital, demonstrates our ability to think creatively about continuing to execute and complete deals in periods of economic and financial uncertainty."