Rooflight acquisition
Velux and Dutch investment firm Egeria have acquired JET-Group, a European leader in industrial roof light systems. The deal is currently being reviewed by the relevant competition authorities.
Velux said the acquisition was in line with its growth strategy – specifically the desire to grow its business in the non-residential market for daylighting solutions.
The acquisition of JET-Group is the second by the Velux Group this year, with Wasco Products, a US skylight manufacturer, announced in April.
“We have had a very positive dialogue with Egeria and the JET-Group,” David Briggs, CEO of the Velux Group, said. “We immediately felt that the ambitions and cultures of the JET-Group and our company complement each other nicely. Through the acquisition of JET-Group, we will strengthen our foothold within the commercial market in several countries and add several new product categories to our commercial offering in Europe.”
The acquisition must be approved by the competition authorities in Germany and Austria before it can be completed. The companies will not disclose further information about the agreement until final approval is granted.