ALTIOS Corporate Finance supports RAGNI in the acquisition of the German company HESS GmbH LICHT + FORM

Press Release – December 2023

An acquisition allowing RAGNI to Expand its activities internationally

  • In June 2023, the shareholders of Ragni, a French company offering design and manufacture of public lighting solutions, through its RAGNI brands, NOVEA ENERGIES and SEVⓔ brands, decided to acquire 100% of Hess GmbH Licht + Form, subsidiary of Nordeon Holding GmbH and Experience Brands S.a.r.l., an international manufacturer of designed outdoor luminaires and site furnishings.

  • Nordeon Holding GmbH (newly renamed Experience Brands) is an industrial group specializing in lighting. The group comprises the Nordeon, Vulkan and Hess brands. Hess GmbH and Hess USA, respectively for their areas of activities (Hess GmbH on the European market), have been acquired by Nordeon in 2013, including the two production sites of Villingen-Schwenningen (Germany) and Gaffney (USA). The traditional VULKAN brand, whose roots go back to 1898, is a pioneer in LED lighting for streets, junctions, parking lots, pedestrian zones and public facilities.

  • The Ragni group is now a team of 400 specialists offering services to ensure the development, and manufacturing of public lighting products and smart city solutions for international markets.

  • This acquisition helps Ragni into their international development, as their first acquisition outside of France. The leading position of Ragni within the French territory and the leading position of Hess GmbH in Germany and in Europe will strengthens the company’s position in the European street lighting market, particularly in the DACH region (Germany, Austria, Switzerland)

  • The Ragni group, run by the eponymous family, has a long history of commitment to innovation and quality in the field of street lighting, with an expected Turnover of nearly €100 million for 2023. With its strong family values, the group shares with Hess a common passion for excellence, innovation, and customer satisfaction.

A transaction supported by Altios Corporate Finance

  • Altios Corporate Finance advised Ragni on the transaction for the purchase of Hess GmbH Licht + Form.
  • The mandate consisted in valuing and analyzing the financial situation of the Hess GmbH Licht + Form, then assisting with the negotiation phase (LOI), coordinating due diligence and contractual documents (SPA, Supply Agreement, IP Agreement) in cooperation with the sellers’ advisors, in accordance with the parties’ agreements and the requirements of German law.
  • The role of Altios Corporate Finance:
    > Financial analysis and valuation of the target company
    > Support in negotiating LOI, SPA & other contractual documents
    > Due diligence coordination

Testimony of Ragni SAS

We had the opportunity to meet the ALTIOS team who presented the portfolio of their knowledge for accompanying our company in the M&A process, we have been extremely happy to collaborate, the team was dedicated, the management of the project has been handled in a perfect way to let us work on what was our expertise, we will definitively have the opportunity to collaborate again!

Jean-Christophe Ragni, General Manager at Ragni Group

Testimony of Altios Corporate Finance

We are pleased to have concluded this first international acquisition for Ragni. The acquisition of Hess, one of the historical German brands in lighting solutions will enable the group to become the European leader in its sector. The start of a successful international expansion, to be continued!

Alexandre Kaplan, M&A Director at Altios Corporate Finance


Buyer’s advisors:
Altios Corporate Finance (M&A) : Alexandre Kaplan and Camille Garbolino
➢ LPA (Legal) : Dr. Leif Gösta Gerlin, Dr. Steffen Paulmann, Matthias Krämer and Björn Joachim
➢ PwC (Financial) : Sinan Kücükakyüz, Fabio Lorenzo Recupero, Marc Klusch and Matthias Bühler (PWC Transaction Services GmbH)

Sellers’ advisors:
➢ Carlsquare (M&A) : Griffin Steele and Christoph Margotti
➢ Deloitte (Legal) : Marcus C. Spangenberger, Dirk Haenisch and Frank Tschentscher

Contact Press: Alexandre Kaplan, M&A Director,

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