Investment Thesis

• Accelerate growth by extending the product offering to include a broader assortment of long life energy saving lighting solutions
• Expand internationally with a focus on large accounts in Europe
• Transform the company from a predominantly lighting products company to an ecological and economical solutions provider

Main transformation Initiatives

• Doubled the sales force and changed its composition to include people from 9 different nationalities
• Changed the sales focus to the right decision makers: from janitors to senior management. Changed the sales approach from having a geographic focus to a segment focus. The segments include Signage, Retail , Street Lighting
• Accelerated R&D to increase the new product launches and also improved the infrastructure required to support new product launches
• Improved the production efficiency at the Karlskrona plant by implementing lean manufacturing processes and automating key processes
• Revised the pricing strategy
• Opened subsidiaries in South Europe
• Refined the value proposition to focus on the environmental benefits and the economic advantages