Goldensea has agreed to acquire the business of SGM Light, it will soon restart trading under a new legal entity, retaining the SGM name.
Established in Italy in 1975, and now located in Aarhus, Denmark, SGM is a lighting manufacturer pioneering the use of IP65 moving lights before, more recently, focusing on architectural lighting. Both these aspects create strong synergies with Goldensea which is investing heavily in both entertainment and architectural IP65 solid state lighting products.
SGM’s products are used in many projects worldwide, including Louis Vuitton’s Headquarters in Paris, Le Stade de France also in Paris, The Three Sister Bridge in Pittsburgh, Pennsylvania USA, Singapore’s Sky Tree Lighting as well as on Adele’s recent shows in Munich and Metallica’s European tour.
Goldensea identified complementary aims and philosophies between the two companies, and the benefits its financial investment can bring to SGM’s product development and growth. “Our investment in SGM aligns with Goldensea’s future strategic and long-term development plans,” says Christopher Agius Ferrante, VP Goldensea “The purchase of SGM is highly complementary to our existing business, and will help to enrich and strengthen the product range and expertise that we can offer all our clients – for both architectural and stage lighting equipment.”
Goldensea states that all SGM Denmark staff will remain in place. “We strongly value the whole SGM team and are excited to have them on board as we seek to invest and grow in our determination to make SGM sustainably successful,” continues Ferrante.
From an operational perspective SGM Lighting has begun the process of reviewing the order book which was existing as of the 1 September and will be contacting all customers to discuss these orders, advise of new lead times (should there be any) and deliver other pertinent information. All customers are advised that new orders will need to be placed in lieu of the existing orders for them to remain valid.
SGM also announces that all existing warranties which were valid under the old entity are to be honoured going forward.