GLOBE ELECTRIC REINFORCES MARKET LEADERSHIP POSITION WITH THE ACQUISITION OF HEATHCO
November 10, 2021
Two leading providers of indoor and outdoor lighting solutions come together to enhance product offering and expand distribution across North America
MONTREAL, QC, November 4th, 2021 - Globe Electric Company ("Globe "), a Montreal-based company specializing in the design, development and manufacturing of innovative consumer lighting and electrical products, today announced that it has acquired HeathCo, an industry leading supplier of security lighting and door chimes, with a large portfolio of patented technologies and products. Leading private equity firm Novacap, who partnered with Globe in May 2021 to help it accelerate its growth trajectory, will continue to support the combined entity as it aims to broaden its product offering and distribution reach across North America.
Recognized for its best-in-class product offering of outdoor lighting, security and motion devices, HeathCo is renowned for the quality of its products. This strategic acquisition will allow Globe to deepen its market leading position in the lighting space by adding new technologies to strengthen it’s already deep portfolio of innovative products
“The acquisition of HeathCo marks a new chapter in Globe’s strategic development, and we are confident that their portfolio will enhance our competitive position in the outdoor security solutions market,” said Edward Weinstein, CEO, Globe. “This will be especially important as we continue to focus on developing new distribution channels across North America. Providing innovation and variety to our customers remains a priority for us, and we are confident that this acquisition will ensure that we continue to deliver above and beyond for our customers.”
“Novacap is thrilled to see the evolution of a great Canadian company like Globe as they deliver on their strategy to expand across new product verticals,'’ said Michel Côté, Senior Partner, Novacap. “With the acquisition of HeathCo, Globe will be well-equipped to maintain its market leadership position and generate increased growth in the interior and exterior lighting space.”