Ardian, a private equity firm based in Paris, has agreed to purchase SLV, a maker of residential and commercial lighting fixtures, for an undisclosed amount from Cinven Group Ltd.

Headquartered in Übach-Palenberg, Germany, SLV manufactures home and technical lighting products for indoor and outdoor use. As part of the deal, SLV will focus on digitalization opportunities, new online sales channels, and international expansion. The target’s founder and private equity firm HgCapital sold the company to Cinven in May 2011.

London-based Cinven is an international private equity firm that targets European and global investments in sectors that include: business services, consumer goods, financial services, healthcare, industrials, and technology, media and telecommunications. The firm has more than €14 billion ($17 billion) in assets under management to date and has invested in more than 118 companies since the firm’s inception.

Dominique Senequier founded the private equity group of French insurer Axa in 1996 and spun it off in 2013, renaming it Ardian. Today, the firm boasts $60 billion in assets under management. Ardian has 160 companies in its current portfolio to date, including: Air Medical Group Holdings, Esim Chemicals, HR Path, IMV Technologies, and PetSmart Inc.

The PE firm recently tapped Seven Mile Capital Partners to establish a direct investment business, further expanding the firm’s presence in North America. Earlier in 2016, Ardian raised its fourth infrastructure Fund IV with €2.65 billion ($2.88 billion) to back European infrastructure companies. In 2015, Ardian raised its fourth co-investment fund with $1.17 billion as well as a $2.25 billion European debt fund. In 2014, the firm purchased a $1.3 billion limited partnership portfolio from GE, which consists of limited partner interests in U.S. buyout funds.

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