Osram Acquires Lighting Services Provider Maneri-Agraz
Texas-based company to join Osram service division Sylvania Lighting Solutions
Osram has strengthened its service business in the U.S. and acquired the business operations of Houston, Texas-based Maneri-Agraz Enterprises, a national provider of energy-efficient lighting solutions in commercial and industrial facilities. The profitable company has annual revenue in the low double-digit millions (based on U.S. dollars). Maneri-Agraz’s client base includes large, well-known food and beverage manufacturing and distribution facilities, as well as technology companies and aerospace facilities, among others. Maneri-Agraz will be part of Osram’s service division Sylvania Lighting Solutions (SLS), which is a segment of Osram’s Lighting Solutions business unit.
Maneri-Agraz provides its solutions to a variety of markets, ranging from manufacturing/warehousing to retail and the public sector. The deal allows Osram’s service business to increase its reach in the South and Southwest region of the U.S. in the commercial and industrial business sector. “The acquisition demonstrates Osram’s commitment to pursuing opportunities that fit our strategic growth plans, and to expanding our service-oriented business,” said Eladia Pulido, CEO of Osram Lighting Solutions.
“Maneri-Agraz has taken great pride in delivering the highest quality service to our customers for more than 20 years, and we are proud to become part of the Sylvania Lighting Solutions team,” said John Maneri, founder of Maneri-Agraz, who will serve as a consultant. Maneri’s business partner, Frank Agraz Jr., will join SLS as a business development manager and will be based in Houston.
OSRAM, based in Munich, is a globally leading lighting manufacturer with a history dating back about 100 years. The product portfolio includes high-tech applications based on semiconductor technology such as infrared or laser lighting. The products are used in highly diverse applications ranging from virtual reality, autonomous driving or mobile phones to smart and connected lighting solutions in buildings and cities. In automotive lighting, the company is the global market and technology leader. Based on continuing operations (excluding Ledvance), OSRAM had around 24,600 employees worldwide at the end of fiscal 2016 (September 30) and generated revenue of almost €3.8 billion in that fiscal year. The company is listed on the stock exchanges in Frankfurt and Munich (ISIN: DE000LED4000; WKN: LED400; trading symbol: OSR). Additional information can be found at www.osram.com.
This document contains statements and information pertaining to our future business and financial performance and future developments that may constitute forward-looking statements – i.e. statements about processes that take place in the future, not in the past. These statements pertaining to the future can be identified by expressions such as "anticipate", "expect", "want", "intend", "plan", "believe", "aspire", "estimate", "will”, "predict" or words of similar meaning. Such statements are based on current expectations and certain assumptions of OSRAM's management. They are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond OSRAM's control, affect OSRAM's operations, performance, business strategy and results and could cause the actual results, performance or achievements of OSRAM to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or anticipated on the basis of historic trends. These factors include in particular, but are not limited to, the matters described in the chapter “Report on Risks and Opportunities” in the Annual Report of OSRAM Licht Group. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of OSRAM may vary materially from those described in the relevant forward-looking statement as being expected, anticipated, intended, planned, believed, sought, estimated or projected. OSRAM neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures they reference.