27th November 2007
Australian-based international events services company Staging Connections Group Limited (SCG) has acquired 100% of UK-based Essential Lighting Group Limited for A$17 million (£7.2 million) and acquired a 30% minority interest in Singapore-based The Event Company (TEC) for A$3 million (£1.3 million) in cash and shares.
“Essential Lighting is an excellent fit with our growing network of global event services,” said SCG chief executive Michael Gardner. “The company is internationally recognised for its creative energy and technical lighting services. Essential Lighting has a strong management team, a stable core employee base of 60 and a strong track record of revenue and earnings growth.”
The purchase enhances SCG’s operations in the European, Middle East and African (EMEA) region and delivers a strong base for entry into the UK and European live events market.
“We are very excited about the opportunities presented by becoming part of a global, professional group of event specialists,” said Essential Lighting managing director, Martin Locket. “We remain focused on supplying our clients in the UK and European live events industries with the best equipment and support for every size of event.”
The 30% shareholding in TEC is part of the company’s ongoing consolidation in Asia, following SCG’s announcement in early October that it had acquired the minority interests in ETG (China and Hong Kong) and Techmex (Singapore and Malaysia) together with the acquisition of 100% of Techmex Event Production (China) for a combined consideration of A$9.6 million (£4.1 million).
(Related categories of interest see Portable Staging)