Clay Paky, based in Northern Italy, is privately owned and recently generated annual sales of more than €60 million (over CDN$88 million). Its products include moving heads, follow spots, and projectors. They are used at live concerts, theaters, and studios as well as in the area of architainment. Both parties agreed not to disclose financial details of the transaction, which is expected to close by the end of the current calendar year. The acquisition is subject to approval by the relevant antitrust authorities.
“Clay Paky is a selective addition and improves the position of the specialty lighting business unit in a highly attractive market,” says Wolfgang Dehen, Chief Executive Officer of Osram.
Osram is one of the leading makers of lamps and LED-based (Solid State Lighting – SSL) components for the entertainment industry. With the planned acquisition of Clay Paky, Osram will take over a well-respected entertainment lighting brand and push forward its value-driven strategy of technology and innovation, says the company in a statement. The innovation-driven entertainment lighting market is very attractive, with mid-single digit percentage growth rates. Clay Paky will be part of Osram’s Specialty Lighting business unit, which comprises the company’s automotive lighting as well as the display and optics activities.
“The combination of Osram and Clay Paky will form a leading professional entertainment lighting systems provider with a strong expertise in SSL technologies such as LED and laser light,” says Hans-Joachim Schwabe, CEO of Osram Specialty Lighting.
Osram therefore plans to keep the Clay Paky brand due to its outstanding reputation in the international entertainment sector and to maintain the company’s independence to a large extent in day-to-day business.
For more information, go to www.osram.com.