Gervasoni, Meridiani and Saba parent Italian Design Brands has completed its eighth acquisition deal, taking a stake in lighting company Axolight.
IDB has taken a minority stake in the manufacturer from Stilnovo Investimenti and Lux Management Platform, which will be increased over the next two years. Giuseppe Scaturro, Axolight md will continue to run the company and remain a key shareholder. This is an approach IDB has taken in previous deals.
‘The pool of opportunities that can be generated with the entry of Axolight in IDB is so ample that several joint operative activities – strategic, industrial and managerial – began even before signing the agreement that formalised our partnership. IDB’s industrial vision, wholly focused on the high-end design segment, and the managerial know-how with which the Group is able to support and facilitate the activity of each company, provide an extraordinary element for growth for Axolight,’ says Scaturro.
‘We are very happy to welcome Axolight in our group. The story of Giuseppe Scaturro really impressed us: a man with a previous experience in finance who decides to embark on an entrepreneurial challenge in the world of lighting, that is remarkable. The enthusiasm of this entrepreneur-manager in pursuing ambitious goals conveys a great confidence for the future. We are certain that the work Scaturro has done in these years will bring further growth to the company,’ says Andrea Sasso, IDB ceo and chairman.
Axolight has sales of €6m, while IDB had sales of €112m in 2020.
