Globe Electric announces acquisition of HeathCo
by CM Staff
Two providers of indoor and outdoor lighting solutions come together to enhance product offerings and distribution network.
MONTREAL — Globe Electric Company, a Montreal-based company specializing in the design, development and manufacturing of consumer lighting and electrical products, announced that it has acquired HeathCo, a supplier of security lighting and door chimes, with a large portfolio of patented technologies and products. Private equity firm Novacap, who partnered with Globe in May 2021 to help it accelerate its growth trajectory, will continue to support the combined entity as it aims to broaden its product offering and distribution reach across North America.
This strategic acquisition will allow Globe to deepen its position in the lighting space by adding new technologies to strengthen its portfolio of products.
“The acquisition of HeathCo marks a new chapter in Globe’s strategic development, and we are confident that their portfolio will enhance our competitive position in the outdoor security solutions market,” said Edward Weinstein, CEO, Globe. “This will be especially important as we continue to focus on developing new distribution channels across North America. Providing innovation and variety to our customers remains a priority for us, and we are confident that this acquisition will ensure that we continue to deliver above and beyond for our customers.”
“Novacap is thrilled to see the evolution of a great Canadian company like Globe as they deliver on their strategy to expand across new product verticals,” said Michel Côté, Senior Partner, Novacap. “With the acquisition of HeathCo, Globe will be well-equipped to maintain its market leadership position and generate increased growth in the interior and exterior lighting space.”
