Osram, Munich, Germany, moved to boost its presence in entertainment lighting for shows and events with a deal to acquire privately owned Clay Paky SpA, Bergamo, Italy. The specialty lighting manufacturer generates annual sales of more than €60 million making and selling moving heads, follow spots and projectors used at live concerts, in theaters and studios as well as in the emerging area of “architainment.” Financial details of the deal were not disclosed, but it’s expected to close by the end of the calendar year, subject to approval by the relevant antitrust authorities.
“Clay Paky is a selective addition and improves the position of the specialty lighting business unit in a highly attractive market”, said Wolfgang Dehen, CEO of Osram.
Osram said the innovation-driven entertainment lighting market is very attractive, with mid-single digit percentage growth rates. Clay Paky will be part of Osram’s Specialty Lighting business unit, which includes the company’s automotive lighting as well as the display and optics activities.
“The combination of Osram and Clay Paky will form a leading professional entertainment lighting systems provider with a strong expertise in SSL technologies such as LED and laser light”, said Hans-Joachim Schwabe, CEO of Osram Specialty Lighting.
Clay Paky, founded in 1976, has more than 100 employees. Osram plans to keep the Clay Paky brand due to its reputation in the international entertainment sector and to maintain the company’s independence to a large extent in day-to-day business, the company said.