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CVC considers sale of Partners in Lighting International

European buy-out firm CVC Capital Partners has announced that its portfolio company Partners in Lighting International has appointed Merrill Lynch to assist in a strategic review of its business and operations that may well consider the sale of the entire business.

PLI has the leading position in the consumer lighting market in Europe, according to CVC. PLI is also active in the architectural lighting market. The company has grown from the Massive business, acquired by CVC in 2002, and through the acquisition of Modular Lighting Instruments. For the year ended 31 December 2004 PLI had a turnover of approximately €325m.

PLI chief executive officer Jules Noten said, 'Over the past three years, we have achieved considerable success in marketing new concepts in lighting and rationalising our production facilities. The acquisition of Modular has allowed us to reach new levels of creativity and design in our product portfolio. Now is the ideal time to consider the next steps in our strategy and development.'

CVC specialises in large-scale leveraged buy-outs and currently has total funds of over $9bn under management. The firm is expected to launch a new fund at some point over the next 12 months that could be in the region of €5bn.

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