Australia's Anacacia takes majority stake in LED business

Set up in 2012, the Melbourne-headquartered company claims to be the country's largest largest LED lighting specialist. It manufactures, supplies and installs LED technology for both commercial and residential customers. The business employs 80 staff and 60 subcontractors.

The lighting market in Australia is estimated to be worth about A$1.4 billion ($1.01 billion) annually. The company expects that LEDs to account for the majority of lighting installed by 2020, as more customers look to save on energy and maintenance costs. Anacacia's investment will be used to pursue organic growth domestically and to target potential strategic acquisitions, the company said.

"The rising cost of energy and increased focus on strong cost management has supported the strong take-up of energy saving products in Australia.," said Jeff Kennett, chairman of LEDified, in a statement. "With this investment LEDified can continue to grow its footprint in Australia further enhancing an already compelling customer proposition through scale and size."

Anacacia has over A$200 million in assets under management and specialises in small-medium enterprises. The firm is currently investing out of Anacacia Partnership II, a 2012 vintage fund that reached a final close of A$150 million in mid 2013. It typically focuses on companies with annual revenues of A$20-150 million.

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• Topics
• Australasia
• Industrials
• Buyouts
• Australia
• Anacacia Capital
• manufacturing
• buyout