LED Enterprises Limited (“LED Group” or the “Group”), operating through the ROBUS and FuseBox brands, and funds managed by the Power Opportunities strategy of Oaktree Capital Management, L.P. (“Oaktree”), a leading global investment manager specialising in alternative investments, has announced a partnership to develop a premier platform for building electrification products and energy transition solutions.
Through the partnership with Oaktree, LED Group will leverage the Power Opportunities team’s expertise, track record and access to capital resources to drive scalability through organic growth and strategic acquisitions. LED Group’s senior management team will remain in place and reinvest in the business, demonstrating their commitment to the partnership and the Group’s growth trajectory.
Founded by Mick J. Slein in 1984, LED Group, through ROBUS provides energy-efficient lighting solutions for commercial, industrial, and residential applications across the UK, Ireland, Europe, Africa, Middle East, Australia and New Zealand. The acquisition of FuseBox, a leading UK provider of circuit protection devices, expanded the Group’s position in the growing building electrification and energy transition sectors.
Oaktree’s Power Opportunities investment approach addresses fundamental changes in the electrical power and utility sectors, driven by evolving customer needs, supply dynamics, increased electrification efforts, and the push for decarbonisation, as well as advancements in technology. The strategy is implemented by the GFI Energy Group at Oaktree.
Mick G. Slein, CEO, and Mick J. Slein, Founder, of LED Group, said: “This partnership marks an exciting new chapter for LED Group and is a significant milestone in our growth journey. With Oaktree as our partner, we are well-positioned to achieve our strategic goal of becoming a market leader in building electrification products and expand our specialist portfolio of commercial, industrial, and residential products and solutions. We look forward to building on our past successes and seizing opportunities for further innovation and accelerated growth.”
Francesco Giuliani, Managing Director and Assistant Portfolio Manager, and Lun Nie, Senior Vice President, in Oaktree’s Power Opportunities strategy, said: “Electrification in commercial and residential buildings is a key pillar in achieving net-zero emissions. LED Group is a recognised leader in providing critical products to enable building electrification and efficiency. Through our Power Opportunities strategy, Oaktree has been investing in the energy transition supply chain for almost 30 years and we are excited to partner with a strong, family-run management team that shares our passion for the sector.”
The transaction is expected to close in Q4 2024. Financial details were not disclosed.
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