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28 March 20242 minute read

DLA Piper advises Schréder on the acquisition of Photinus

DLA Piper has advised Schréder, the leading independent and global provider of smart outdoor lighting solutions, on the acquisition of Photinus, a leading European solar lighting provider. With the acquisition of 49 percent of the shares in Photinus, Schréder aims to accelerate the growth of smart and connected solar solutions.

Schréder S.A. was founded in 1907 and is present in over 70 countries on 5 continents. Photinus GmbH, based in Vorarlberg (Austria), was founded in 2006 and is a globally active company which is represented on all continents. With the merger, the two lighting manufacturers are joining forces to provide cities and municipalities around the world with sustainable lighting solutions, powered by solar. The transaction was signed on 14 March 2024 and is expected to close at the end of the month.

The acquisition will create a dynamic alliance to accelerate the adoption of renewable energy around the world. Market demand for solar lighting is not only in remote areas where there is no electricity supply, but also in towns or villages that are starting to analyse the cost of replacing old power cables with a more sustainable off-grid solar lighting solution. This new partnership aims to provide lighting solutions with a significantly reduced carbon footprint.

The DLA Piper Austria team led by Dr. Christoph Mager also included senior associates Eric Wingert and Andreas Bischofreiter (all Corporate/M&A).