Holland & Knight Advises on Luxury Lighting Industry Deal
MIAMI (July 8, 2021) – Holland & Knight advised W Schonbek LLC, a wholly owned subsidiary of WAC, on its acquisition of the assets of Swarovski Lighting, Ltd., including the Schonbek Worldwide Lighting brand, a factory in Plattsburgh, N.Y., and all associated intellectual property. The deal closed on July 1.
WAC, based in Port Washington, N.Y., is a manufacturer of LED architectural, task and decorative lighting, as well as smart ceiling fans. Schonbek is a global brand with established distribution in Europe, Australia and the Middle East, where WAC does not yet have a presence.
As a result of the acquisition, WAC will now own and operate a key U.S.-based factory that will expand its domestic manufacturing capabilities to include fabrication, finishing and assembly. The Plattsburgh factory will focus on made-to-order and custom products for all of the brands in WAC's portfolio, including Modern Forms, dweLED, WAC Lighting, LIMITED and AiSPiRE. It will also play a strategic role in designing new products and developing new luxury finishes for all brands.
Holland & Knight Partner Aaron Slavens and Associate Kyle Hershey led the firm’s representation of W Schonbek. They received assistance from Partners Robert Warram and Daniel Barsky.
More information about the transaction can be found here.