Date of original investment: 2013
Deal type: Management buy-out
Kitchens and bathrooms need bright, crisp, white lights; reception rooms and bedrooms on the other hand are better suited to warm, soft glows. Halonix Technologies Ltd, India’s largest manufacturers of energy efficient lighting solutions (Compact Fluorescent Lamps and LEDs) is one of the top five CFL brands in the country.
Building on changing middle class aesthetic tastes replacing the use of incandescent light bulbs with CFLs, the firm brought in experts to help launch new LED and CFL products and expand distribution. Developing the nationwide distribution network and the Halonix brand have been key areas of focus for the company.
In 2013, with more than 650 distributors, a much-lauded advertising campaign that was among the 6 Indian entries shortlisted for Cannes 2014, impressive sales and profit growth, Actis decided that it was time the Halonix brand stood in the limelight by itself: it spun off the general lighting business from its parent business, Phoenix Lamps.
This separation has helped both businesses focus on their respective markets. At Halonix, Actis is working on a three-pronged strategy of further network expansion, new product development in LED and reduced manufacturing costs to secure a bright future for the business.