Press Release
Jul 5, 2017

Lumileds Officially an Independent Company as Funds Affiliated with Apollo Global Management and Philips Complete Transaction

The global lighting solutions leader is positioned for continued success in automotive, mobile, IoT and illumination markets

 

San Jose, CA – July 5, 2017 – Lumileds announced that funds affiliated with Apollo Global Management, LLC (together with its subsidiaries, “Apollo”), and Royal Philips completed their previously disclosed transaction, resulting in Lumileds operating as an independent company. Lumileds develops lighting solutions for the automotive, mobile, IoT and illumination segments, enabling customers to push the boundaries of light. 

As announced in December 2016, Apollo and Philips agreed to a transaction where Philips would sell 80.1% interest in Lumileds to certain funds managed by Apollo and retain the remaining 19.9% interest in the company. Apollo is a leading global alternative investment manager with assets under management of approximately USD 197 billion* in private equity, credit and real estate funds, invested across a core group of nine industries, where Apollo has considerable knowledge and resources.

“We are fortunate to have Apollo's 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 9,000 team members with operations in over 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.”

* As of March 31, 2017

 

About Apollo

Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, St. Louis, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management of approximately $197 billion as of March 31, 2017 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.


For further information, please contact:

Kevin Lucido
Senior Director of Global Marketing Communications
Lumileds
+1 650 576 3864
[email protected]

 

About Lumileds:

Lumileds is the global leader in light engine technology. The company develops, manufactures and distributes groundbreaking LEDs and automotive lighting products that shatter the status quo and help customers gain and maintain a competitive edge. With a rich history of industry “firsts,” Lumileds is uniquely positioned to deliver lighting advancements well into the future by maintaining an unwavering focus on quality, innovation and reliability.

To learn more about our portfolio of light engines, visit lumileds.com.

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