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Lumileds, a long-time LED manufacturer, has finally re-finished its buyers. Royal Philips of the Netherlands officially stated that it will sell 80.1% of its shares to American private equity fund Apollo Global Management for US$2 billion (including debt and debt-type projects). , LLC (NYSE: APO), Philips still holds 19.9% ​​of Lumileds shares, what will happen to the global LED industry in the future?
â–² Philips CEO Frans van Houten said Apollo Private Equity Fund.
The Lumileds owned by Philips, originally used to be sold to the Chinese capital-based investment team such as the Jinsha River, stopped the transaction after the US government stated that there was a national security issue.
Subsequently, Philips continued to look for new buyers, buyers in Asia, Europe and the United States have negotiations, and the new buyers officially on the table are Apollo private funds with considerable assets. The price of this transaction is about US$2 billion and is expected to be completed in the first half of 2017. Philips CEO Frans van Houte pointed out that with this transaction, Philips has completed an important phase of adjusting the company's product line, and is also quite satisfied with Apollo's entry into Lumileds. Lumileds has been separated from Philips in 2015. Its innovation, technology leadership and loyal customer base are the company's main values.
The Apollo Private Equity Fund manages approximately $189 billion in assets. The investment field covers nine major industries and has considerable industry experience. How to lead Lumileds to continue to grow in the future is the focus of the current market.
LEDinside believes that since Philips still owns a 19.9% ​​stake in Lumileds, Lumileds' R&D team and strong intellectual property rights are important weapons in the future. Currently, the company currently has about 9,000 employees worldwide. As well as the annual revenue of up to 2 billion US dollars, the LED industry is still a considerable weight.
But the price of this transaction is half that of the last sale to the Jinsha River. It does not mean that the value of Lumileds is reduced, but that Philips finds buyers they can cooperate with and other possibilities that value the future.
The IPO of Philips' ongoing lighting business in Philips is also affected by the future. If Philips and Lumileds are the same group, the division of the Philips lighting business and the IPO will be a large-scale complex with lighting business, lighting system business, LED lighting components, and automotive lighting business.
But Philips finally succeeded in selling the split Lumileds. After getting the cash, Philips Lighting's IPO is simply a lighting system and lighting company. The profit of this company is relatively high, and there will be comparison in the future. Good selling price.
For other LED chip manufacturers, because Lumileds is not sold to Chinese capital but sold to US capital, Europe and the United States, such as Osram and Cree, will have different patterns in business competition. Asian manufacturers include Taiwan, South Korea and Japan. There is a chance to seek Lumileds' OEM orders or get more technical cooperation space. For Lumileds' new gold owners, the revenue generation will be diversified.
Lumileds expects to continue to work closely with many lighting companies, automotive lighting companies and consumer electronics companies to supply stable LED components and products, and Apollo Private Equity Fund may combine the company's combined effects of investing in multiple pipelines. Continue to leverage the key values ​​of Lumileds and find more possible opportunities for collaboration.
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