ADDLESHAW Goddard’s corporate team in Scotland has advised the majority shareholders of Livingston-based lighting innovators, designLED, on its sale to Faurecia – one of the world’s leading automotive technology companies.
A specialist in advanced backlighting digital innovation, the acquisition of designLED will bolster Faurecia’s offering in display technologies to its client portfolio which includes Volkswagen Group, Stellantis, Renault–Nissan–Mitsubishi, Ford, General Motors, BMW, Daimler, Toyota, Hyundai-Kia and Jaguar Land.
Supported by its significant intellectual property portfolio, designLED’s advanced, flexible, energy-efficient technology can be adapted to a growing range of automotive lighting and other vehicle interior surfaces.
As a leader in human machine interface applications and advanced modelling and simulation capabilities, the acquisition of designLED will help Faurecia’s drive to enhance the cockpit users experience.
The Addleshaw Goddard team advising on the deal was led by Glasgow-based partner, Anna Brown, with support from Sarah Dick and Finlay MacDougall.
Anna Brown, corporate finance partner, said: “Enabling the acquisition of designLED by a global operator has been rewarding to complete, as its innovative and advanced technology will now reach a wider market. It is evident that the team at designLED is incredibly passionate about its world-class range of products and being part of the Faurecia group will enable the team’s skills and technology to become an integral part of the revolution in cockpit technology and enhanced driver and passenger experience.
“Addleshaw Goddard’s expertise across the automotive and technology sectors is consistently growing, as we look to close Q2 in a strong position with a number of significant M&A deals concluding across both industries.”
Stuart Bain, chief executive at designLED, said: “This is an extremely important milestone for our business. It strengthens our already industry-leading position as a developer and manufacturer and enables us to provide our best-in-class technology to a fully global market as part of one of the automotive sector’s biggest players.
“To get any deal over the line you need a supportive, flexible and, most importantly, available legal team. We have had total trust and confidence in the Addleshaw Goddard team throughout the entire process, in particular the professionalism and dedication – with a measure of good humour – of lead partner, Anna Brown.”