Lumileds Goes Independent

Lighting solutions provider Lumileds has become an independent company.

As announced in December 2016, Apollo Global Management LLC and technology company Royal Philips NV agreed to a transaction where Philips would sell 80.1 percent interest in Lumileds to certain funds managed by Apollo and retain the remaining 19.9 percent interest. Apollo is a global alternative investment manager.

“We are fortunate to have Apollo and Philips’ support as Lumileds embarks upon our next chapter as an innovator of high-performance LEDs and a leader in advanced lighting solutions,” said Mark Adams, CEO of Lumileds.

Lumileds develops, manufactures and distributes groundbreaking LED technology and advanced lighting products, employing over 9000 people with operations in more than 32 countries.

“Lumileds has over 100 years of innovation as a pioneer in the lighting industry,” said Robert Seminara, senior partner at Apollo. “We look forward to working with the Lumileds team in support of what we believe will be a very successful future.”