Fagerhult Group acquires Seneco A/S to strengthen connectivity offering

HABO, Sweden, April 8, 2021 /PRNewswire/ -- To strengthen our connectivity offering for outdoor environments, the Fagerhult Group has acquired the remaining 80% shares in Seneco A/S.

Seneco is a Danish lighting connectivity company founded in 2010. The system consists of a full wireless product range for outdoor luminaires, connected to the system is also an online portal for remote monitoring and integration to other installations. Besides creating more safe outdoor environments, the system leads to significant energy savings and lower maintenance costs. Most of Seneco's installations are today found in Denmark and adjacent European markets.

'In 2017 we acquired 20% of Seneco and we have since seen a good adoption of the technology across our brands. As a leading European outdoor lighting provider this acquisition helps us to further strengthen our offering and increase our competence level, which is a key strategic initiative for us. Seneco's solution fits well with our ambition to provide open solutions that are easy to use for our customers and partners. I am very happy to welcome the Seneco team to Fagerhult Group', says Bodil Sonesson, CEO Fagerhult Group.

The process was completed April 8^th 2021

Contact information:

Bodil Sonesson, CEO, +46 722 23 76 02, bodil.sonesson@fagerhultgroup.com

Michael Wood, CFO, +46 730 87 46 47, michael.wood@fagerhultgroup.com

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SOURCE Fagerhult