Performance in Lighting acquires Spittler

Performance in Lighting, a leading group in the lighting industry in Italy, acquired a 75% of the share capital of Spittler Group (Germany). This acquisition is in line with the European expansion strategy implemented by PIL with the support of Arietti & Partners, who in 2008 acted as exclusive advisor to this client in the acquisition of Belgian Ed-Dis. With the acquisition of Spittler, PIL significantly strengthens its footprint in the German market as well as its European presence in the indoor lighting sector. As a result of this acquisition, PIL will reach a turnover of 135 million euro and 700 employees in 2010. Arietti & Partners and Angermann M&A International GmbH - the Italian and German teams of M&A International Inc., originated the deal and represented PIL throughout the acquisition process.