Clay Paky’s founder and president Pasquale Quadri has signed an agreement for the acquisition of the company by global light manufacturer Osram.
Following the acquisition, Clay Paky will continue to operate from its head office in Bergamo, Italy and has described the decision as ‘vital to a secure future’. The transaction is subject to approval from anti-trust approval but is expected to be completed by the end of this year.
Quadri stted: “Integration with Osram, which has a great wealth of technological competence and an in-depth knowledge of the lighting market, is an ideal opportunity for the further development of Clay Paky. After 40 years crowned by success, I am delighted to be able to offer my company, my staff and our customers a reliable solution for a secure future.”
One of the leading makers of lamps and LED-based (Solid State Lighting - SSL) components for the entertainment industry, Osram hopes to strengthen its position in entertainment lighting following the acquisition. Hans-Joachim Schwabe, CEO of Osram speciality lighting, said: “The combination of Osram and Clay Paky will form a leading professional entertainment lighting systems provider with a strong expertise in SSL technologies such as LED and laser light.”
Osram plans that Clay Paky will maintain its independence to a large extent in day-to-day business. Clay Paky will be part of Osram’s speciality lighting business unit, which comprises the company’s automotive lighting as well as display and optics activities.