Portfolio
Nature of Business
Targetti is one of the oldest and most respected companies within the European indoor and outdoor lighting sector. Established in Florence 75 years ago, the company produces and distributes over 3000 products in more than 90 countries around the world. The 2007 acquisition of the Danish company Louis Poulsen has added tradition and further international presence to the group.
Thanks to a well-balanced combination of design and technology, Targetti Poulsen lamps are used to light universal masterpieces such as Michelangelo’s David, Da Vinci’s Last Supper and Notre Dame Cathedral, and are used in a wide range of settings, from theatres to airports, from retail shops to offices to world leading hotel chains. Clients include major global brands such as McLaren, Bulgari, Benetton, Diesel, Peugeot, Citröen, Ferrari and many others.
Investment Overview
In 2007, family-business Targetti was keen to acquire Danish lighting experts Louis Poulsen. Both companies were strong in their respective regions and with complementary strengths. 3i has a strong track record of working with family-owned businesses and with our presence in both the Nordic region and Italy, we were ideally placed to partner with Targetti, providing financial backing and the corporate experience to support the deal.
With our support, Targetti acquired Louis Poulsen in September 2007 and delisted from Borsa Italiana two months later. We took a minority 37% stake in the new company with a focus on combining the two leading businesses and deliver synergies on sales and cost in a growing market.
We also introduced Paolo Antonietti through our Business Leaders Network. Paolo is a seasoned industrialist with rich experience in guiding manufacturing businesses and a wealth of international contacts.
We are working closely with management on a number of Active Partnership initiatives, specifically sales force effectiveness and procurement.
