Carlyle’s General Lighting completes Malaysia acquisition
General Lighting (GLC), a Saudi Arabia-based portfolio company of The Carlyle Group, has agreed to buy Davex, Malaysia’s largest lighting fixtures manufacturer and supplier, for MYR183 million ($60 million). The company sees the acquisition as a platform for accessing the Vietnam, Indonesia, Singapore, Malaysia and Australia markets.
"The acquisition of Davex comes as a perfect complement to GLC's product offering, fitting with the requirements of our core Middle East and Africa markets," said Eng. Fahad Al-Hobayb, CEO of GLC. "Also,...
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