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Osram Sells Siteco Luminaires Business to Stern Steward Capital

Osram is selling its luminaires business Siteco, to Stern Steward Capital, the Munich based investment arm of Stern Steward & Co. for an undisclosed amount.

Osram

Osram in its release said that separation from Osram gives Siteco entrepreneurial freedom. The company also noted that its cost situation would also improve with the elimination of previous Group structures.

Osram announced its plan to sell its luminaires business in 2018 and had sold the lamp business unit LEDVANCE in 2017. By axing its lighting business, the company aims to become a high-tech photonic company.

“Stern Stewart will be undertaking an entrepreneurial role and offers Siteco and its employees good prospects”, said Olaf Berlien, CEO of OSRAM Licht AG. “In this way, we can ensure strategic and operational continuity for Siteco, while Osram continues to sharpen its profile as a photonics champion.”

From Stern Stewart Capital’s point of view, Siteco stands for innovative lighting technology engineered and made in Germany. “We are looking forward to providing entrepreneurial support to the highly motivated Siteco team and management”, said Markus Pertl, Managing Partner of Stern Stewart Capital.

Stern Stewart & Co. has been supporting Osram on various projects since 2016, and on Siteco in connection with its transformation process since 2017. The luminaire specialist is, therefore, getting a new owner who knows the company very well and who has the expertise to make further contributions to its future success, further read the company release.

Further details: Click Here

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Jyoti Gazmer

A Mass Comm. graduate believes strongly in the power of words. A book lover who dreams to own a library some day. An introvert but will become your closest friend if you share mutual feelings about COFFEE. I prefer having more puppies over humans.

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