Business News
Lumenpulse founder F-X Souvay aims to take company private

May 3, 2017 – Lumenpulse Inc.—the parent company of Lumenpulse Group, a manufacturer of LED lighting solutions—has entered into an arrangement agreement in which a consortium led by François-Xavier Souvay (founder, president & CEO of Lumenpulse) will acquire all of the issued and outstanding common shares of Lumenpulse.

“As a private company, we will have the resources and flexibility to continue our growth, increase our focus on innovation and the development of new products, and take another giant step towards becoming a true global leader in the high-performance architectural specification-grade lighting sector,” said Souvay.

“As the founder and CEO, François-Xavier and his talented entrepreneurial management team have grown this Montreal-based company into an important global player. Their philosophy is truly aligned with our long-term value creation model,” said Olivier Desmarais, chair of Power Energy Corp. (a consortium member).

Should the deal go through, Souvay would be the president & CEO of the private company, and remain involved in all aspects of the business and operations. The transaction values Lumenpulse at about $600 million.