Hg Capital Lights Up

HgCapital said Thursday it is buying a majority holding in Germany's SLV, one of the fastest growing producers of innovative lighting systems in Europe.

The company's founder and current managing director, Franko Neumetzler, who has up to now held the majority of SLV's capital, will retain a significant minority stake in the company in the future, with the other members of management also continuing to hold shares.

The transaction, which is being executed on the basis of an enterprise value of Euro320m, still requires the approval of the German Federal Cartel Office and is expected to be closed in roughly one month's time.