Latest news with #Osaka-headquartered
Time of India
3 days ago
- Business
- Time of India
Panasonic in talks to buy controlling stake in focus
Panasonic is in talks to buy a controlling stake in business-to-business (B2B) light fittings maker Focus Lighting and Fixtures , in what would be its second acquisition in the electricals segment in India after nearly two decades, said people aware of the matter. The Sheth family, founding shareholders of Focus Group, owns 55% of the NSE-listed company. The remainder is with the public including individuals and bodies corporate. Panasonic is looking to acquire the promoters' entire shareholding in Focus Lighting, said the people cited above. A potential deal would trigger a mandatory open offer to the company's public shareholders for at least 26% stake as per Sebi guidelines, they said. The acquisition would cost Osaka-headquartered Panasonic about ₹526 crore, including the 26% open offer, based on Focus Lighting's current market capitalisation, as per ET's calculations. According to the people cited above, the negotiations are at an advanced stage, but the due diligence of Focus has brought to light issues which need to be addressed before inking the contract. A spokesperson for Panasonic's electric works business divisions (erstwhile Anchor) said the speculation "appears to be unfounded.' 'No such information has been shared, and to our knowledge, no such facts exist,' he said. Focus, which listed on NSE's small and medium enterprises (SME) board in 2017, did not respond to ET's queries. The company makes light fittings for commercial uses such as retail store facades and interiors. Its clientele includes Reliance Retail and DLF. The Indian B2B market for lighting products and fixtures is mostly unorganised with the presence of several small and local companies in the segment. Matsushita Electric , Panasonic's previous avatar, had acquired household name Anchor Electricals in 2007, getting a foothold in the business-to-customer (B2C) home electricals and light fitting segment. The electric works business, which includes LED lighting products, switches and wires, cables, smart home products and energy solutions is the largest revenue contributor for Panasonic in India, accounting for over half of Panasonic Life Solutions India Pvt Ltd sales, the flagship entity. The rest comes from AC, televisions, industrial and system solutions, lithium-ion battery trading, and smart factory solutions of SMT machines, robotic arms and welding machines. Panasonic's efforts to acquire control of Focus Group underscores its strategy to enhance its footprint in the B2B segment, its biggest revenue-generator globally.
Time of India
3 days ago
- Business
- Time of India
Panasonic in talks to buy controlling stake in Focus Lighting and Fixtures
Panasonic may acquire a controlling stake in Focus Lighting and Fixtures. This would be Panasonic's second electricals acquisition in India. The deal involves buying the Sheth family's shares and a public offer. Negotiations are advanced, but due diligence has revealed issues. The acquisition could cost Panasonic ₹526 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi | Kolkata: Panasonic is in talks to buy a controlling stake in business-to-business (B2B) light fittings maker Focus Lighting and Fixtures , in what would be its second acquisition in the electricals segment in India after nearly two decades, said people aware of the Sheth family, founding shareholders of Focus Group, owns 55% of the NSE-listed company. The remainder is with the public including individuals and bodies is looking to acquire the promoters' entire shareholding in Focus Lighting, said the people cited above. A potential deal would trigger a mandatory open offer to the company's public shareholders for at least 26% stake as per Sebi guidelines, they acquisition would cost Osaka-headquartered Panasonic about ₹526 crore, including the 26% open offer, based on Focus Lighting's current market capitalisation, as per ET's to the people cited above, the negotiations are at an advanced stage, but the due diligence of Focus has brought to light issues which need to be addressed before inking the contract.A spokesperson for Panasonic's electric works business divisions (erstwhile Anchor) said the speculation "appears to be unfounded." "No such information has been shared, and to our knowledge, no such facts exist," he which listed on NSE's small and medium enterprises (SME) board in 2017, did not respond to ET's company makes light fittings for commercial uses such as retail store facades and interiors. Its clientele includes Reliance Retail and DLF The Indian B2B market for lighting products and fixtures is mostly unorganised with the presence of several small and local companies in the segment. Matsushita Electric , Panasonic's previous avatar, had acquired household name Anchor Electricals in 2007, getting a foothold in the business-to-customer (B2C) home electricals and light fitting electric works business, which includes LED lighting products, switches and wires, cables, smart home products and energy solutions is the largest revenue contributor for Panasonic in India, accounting for over half of Panasonic Life Solutions India Pvt Ltd sales, the flagship entity. The rest comes from AC, televisions, industrial and system solutions, lithium-ion battery trading, and smart factory solutions of SMT machines, robotic arms and welding efforts to acquire control of Focus Group underscores its strategy to enhance its footprint in the B2B segment, its biggest revenue-generator globally.
Scotsman
23-07-2025
- Business
- Scotsman
Global HVAC giant acquires Scottish services firm in major inward investment deal
A leading Scottish facilities management firm has been acquired by the world's largest manufacturer of HVAC solutions, in a move hailed as a major inward investment boost for the Scottish economy. Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Saltire Facilities Management Ltd, headquartered in North Lanarkshire, has been sold by United Capital Group to Japanese-based Daikin Industries Ltd, a global leader in heating, ventilation, air conditioning and air filtration technology. The deal marks the conclusion of United Capital's five-year ownership of Saltire, during which time the company has secured more than £220 million in public sector contracts and delivered its strongest financial performance in a 25-year history. Advertisement Hide Ad Advertisement Hide Ad Graeme Carling, co-founder of United Capital Group, said: 'We're incredibly proud to conclude our five-year ownership of Saltire with this transformational deal. The business was already a trusted name in housing and property services, but through targeted investment and strategic support, we helped unlock its potential, leading to the most successful period in its history. Left to right, Mark Dyer and Wim Deschact from Daikin with Graeme Carling and and Leanne Carling from United Capital Group 'Securing over £220 million in new public sector contracts and achieving record growth has not only safeguarded hundreds of jobs, it also made Saltire an attractive proposition for the world's biggest name in HVAC. Crucially, this deal brings direct inward investment into the Scottish economy, ensuring Saltire's long-term future and unlocking new opportunities for the region.' Saltire Facilities Management employs around 300 people and supports a broad subcontractor network. It operates across Scotland and the Midlands and specialises in renewables, gas services and electrical works, serving local authorities, social housing providers and thousands of customers. The buyer, Osaka-headquartered Daikin Industries Ltd, employs more than 100,000 people worldwide and is the only manufacturer to design and produce heating, ventilation, air conditioning and refrigeration equipment entirely in-house. The company operates in Europe through Daikin Europe NV, which includes Daikin UK — the division under which Saltire will now operate. Advertisement Hide Ad Advertisement Hide Ad Tomoji Miki, managing director at Daikin UK, said: 'This acquisition is a significant step towards achieving our strategic goals of creating a national service structure. By combining the strengths of Daikin, Robert Heath Heating and Saltire Facilities Management, we are well-positioned to lead the heat pump market in the UK and provide exceptional service to our customers.'
