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Polaron plc Acquires iLight Group
The AIM listed broad-based technology group has acquired the entire share capital of iLight Group Ltd, with the purchased finalised on 1st September 2004. The iLight group, which contains the market leading lighting control companies’ iLight Ltd and Zero 88 Lighting Ltd, is now part of Polaron’s control systems division.
David Kerr, director and majority shareholder of iLight Group Ltd, has agreed to join Polaron Controls Division board of directors as non-executive chairman.
Commenting on the acquisition, Joe Stelzer, CEO of Polaron plc said: "In line with our stated strategy at the time of our AIM listing in March, this acquisition strengthens our controls division with an enlarged portfolio of products and specialised sales and R&D teams that will allow us to offer customers a one stop shop for all aspects of lighting control. Our aim, during the next 12 months, is to restructure and integrate the various individual businesses into one operating unit supplying the Polaron, iLight and Zero 88 brands”
The Polaron Controls Division will focus on the core values of technology, value for money, service and product integrity for all three brands. The enlarged group will continue to build on its successes to date, working with its global partners, to offer a comprehensive and globally supported product range. The division will be focused on developing the brands and the business, with a view to it becoming the largest lighting controls company in Europe.
In picture: Joes Stelzer, CEO of Polaron.
7th September 2004
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