Lucy Group Ltd (Lucy) announces today that on 31st December 2017 it acquired Arteche’s medium voltage switchgear business in Brazil, Lucy Arteche Equipamentos Eléctricos Ltda (Lucy Arteche). Lucy Arteche will be part of the Group’s medium voltage, secondary power distribution business, Lucy Electric. It will benefit from Arteche’s extensive experience and expertise in medium voltage, air-insulated switchgear products in South America as well as introducing Lucy Electric’s products into the region. The expansion into South America is consistent with Lucy Electric’s strategy for expanding its business in key growth markets around the world.
Lucy Arteche will continue to produce and develop its existing medium voltage, air-insulated electrical switchgear range for South America. It will also introduce a number of Lucy Electric’s low and medium voltage electrical distribution and smart automation products and services into the region.
Lucy Arteche’s address is Avendida das Araucarias, 2558, Thomas Coelho, Araucária, CEP 83707067, Brazil.
John Griffiths, CEO of Lucy Electric says “With this timely strategic acquisition, Lucy Electric enters the developing markets of South America in line with our business development plan. Arteche has a strong presence on this continent, and by working in close collaboration we will continue to deliver top quality products and solutions to both existing and new customers, as well as launch Lucy Electric’s intelligent products, solutions and services in the region. We look forward to engaging with all our stakeholders, building professional long term relationships whilst at the same time bringing Lucy Electric engineering expertise and outstanding customer service to these important markets.”
Alex Artetxe, CEO of Arteche Group says “South America is a strategic market for us, we will continue operations in Brazil, focusing on our core business – including instrument transformers, power quality solutions, auxiliary relays for tripping applications, reclosers and automation, control and protection systems – to consolidate our position in the domestic smart transmission and distribution market. Arteche will support Lucy Electric to maintain a close relationship and service with our customers and suppliers.”
All customers and suppliers are in the process of being contacted and all existing orders will be fulfilled by Lucy Arteche.
About Lucy Group
Lucy is a privately owned group of companies based in Oxford. The Lucy Group features in ‘The Sunday Times Grant Thornton Top Track 250’ league table in 2017 – for the second time in four years. The Group comprises four businesses: Lucy Electric, a leader in secondary power distribution solutions specialising in high-performance medium voltage switchgear for utility, industrial and commercial applications; Lucy Zodion, a market leader in the design and manufacture of street lighting control systems; Lucy Real Estate, which owns, lets and manages a substantial property portfolio and develops residential property for sale; and Lucy Castings a specialist manufacturer of iron and aluminium castings.
Lucy Electric, based in Thame, Oxfordshire, UK has operations in Europe, Asia, Africa, Middle East and now South America.
For the year ending 31st December 2016, Group sales were £192 million with net assets of £178 million. The Group has over 1,300 employees.
About Arteche Group
Arteche is a global company headquartered in Mungia, Spain, with over 70 years of experience in the electric power industry. The Group develops equipment and solutions focused on generation, transmission and distribution. With over 2,000 employees working all over the world, Arteche is a worldwide manufacturer with equipment installed in more than 150 countries.