Omikron Acquires Majority Stake in Nemo
Milan-based Omikron Design has signed an acquisition agreement with Poltrona Frau Group for a majority stake in Nemo, the lighting division of Cassina. Omikron will acquire 51 percent of Nemo, including operations and the full participation of French distributor Artelux S.A.
With the addition of Nemo, Omikron will now operate in 30 countries. This deal will allow the brands to leverage themselves more effectively in the increasingly competitive residential and contract lighting sectors.
“Challenge for growth, in particular among design companies, implies a constant research to identify best balance between technical innovation, aesthetics and experimentation,” says Federico Palazzari, Chairman and CEO of Omikron. “LED devolution is in its early stage and we believe that Nemo’s know-how, alongside with Omikron’s experimental spirit, will deeply strengthen the company position as one of the leading players,” he says.