The Gerard Lighting Group (GLG) board has announced plans to explore strategic options for the company’s Pierlite business.

GLG is majority-owned by Bain Capital Credit and Investec. Through their strong support over a number of years, the Pierlite business has achieved meaningful growth including double-digit profitability based on revenues of approximately $150m.

According to GLG, this has been driven in part by a comprehensive transformation program focused on a customer-led distribution model which has included significant investments in product innovation and R&D, new technology systems and end-to-end process improvements.

GLG chairman Ben Sebel says the Pierlite division was well-placed to sustain strong growth following the successful transformation program, and with a clear focus on new market opportunities.

“The business has a clear strategy to capitalise on the significant opportunities in important and rapidly emerging segments, including the global market for smart building lighting solutions which is forecast to become a US$100b industry by 2025,” he says.

Ankura Consulting has been appointed financial advisor to the proposed process.

Pierlite has been providing lighting solutions to the Australian and New Zealand markets for more than 70 years. It has a strong track record of delivering large and complex lighting solutions projects, including:

• Project with NSW Education to upgrade classroom lighting at more than 1,000 schools across the state;
• Installation of a custom-developed, six-star energy rating light solution at Sydney’s Barangaroo Towers;
• Exclusive contract to supply 10,000 state-of-the-art light fittings at the Commercial Bay Precinct in Auckland, New Zealand; and
• Design and installation of a customised lighting solution for the Chevron Tower development, Western Australia’s largest construction project.