Stern Stewart Industries acquires luminaires business Siteco from OsramStern Stewart Industries takes an entrepreneurial approach with its investment
Stern Stewart Industries - formerly known as Stern Stewart Capital - has acquired 100% of Osram's Siteco luminaires business. Stern Stewart & Co. has been successfully advising Siteco on restructuring and the ongoing transformation process in the last years. Stern Stewart Industries will continue the current transformation approach.
The luminaires specialist is therefore getting a new owner which has already successfully helped to shape Siteco‘s strategic and operational direction and will make further contributions to future success based on its expertise. By separating from Osram, Siteco continues to gain entrepreneurial freedom. In addition, the cost situation will continue to improve with the elimination of previous group structures. With the sale of the luminaires business, Osram is continuing its transformation into a high-tech company that Stern Stewart & Co. has been supporting for several years now.
"Stern Stewart Capital 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 Industries’ 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 Industries.
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