Lowe & Fletcher sells BLE Lighting & PowerNews
Posted by: electime 4th April 2018
Lowe & Fletcher has sold BLE Lighting & Power to the Red Arrow Trading group for an undisclosed sum.
Lowe & Fletcher manufactures locking systems under the Lowe & Fletcher and Euro-Locks brands and fire safety and security systems through its BLE Smoke & Fire Curtains and Coopers Fire businesses. Lowe & Fletcher generates turnover of more than £75 million from four manufacturing sites in the UK plus operations in mainland Europe.
BLE Lighting & Power, based in Eckington, South Yorkshire, is a leading name in the provision of emergency lighting products and solutions and emergency power systems, supplying to a broad customer base of wholesalers, contractors and end-users.
Lowe & Fletcher identified it as non-core to its strategy and retained Birmingham-based corporate finance advisory business, Cattaneo, to advise it on its divestment options. This culminated in the business being sold to the Red Arrow Trading group, an importer and distributor of lighting and electrical equipment to the electrical wholesale industry from its base in Sheffield.
Giles Birt, Lowe & Fletcher Group finance director, commented: “We are delighted to have found a good home for BLE Lighting & Power and wish Red Arrow every success with their enlarged business. We are grateful to the Cattaneo team for conducting an effective marketing process and are pleased that the entire workforce is being retained and that they have a bright future ahead as a core part of an ambitious group.”
Martyn Pilley, who led the Cattaneo team, said: “The close proximity of the two business was identified as a significant factor at an early stage in the sale process and we are delighted that the proposition was compelling to all involved and so made for a logical deal. ”