Elstead Lighting is growing fast. With support from our growth 365 team, management has launched a bold expansion of their operations overseas.
“We’re expanding rapidly which is exciting. The growth 365 team has been alongside us providing fantastic support on the challenges and potential benefits involved in an international deal.”
Jonathan Lucas, Managing Director, Elstead Lighting
Elstead Lighting Managing Director Jonathan Lucas has big ambitions for the Hampshire-based business – and an eye for a good opportunity. The company sells over 2,500 different lighting products to hotels, restaurant chains and pubs, as well as owners of large homes. With exports already established in over 50 countries, including subsidiaries in Poland and Slovakia, and suppliers in China and the United States, Jonathan wanted to grow the company’s presence in the Middle East, specifically Dubai. While having a fantastic track record for growth, Jonathan did not have the required information or local knowledge to be able to make an informed decision on the most appropriate options to realise the company’s growth plans.
Bringing local insight
Our growth 365 team helped Jonathan and his team understand how the most successful British and international competitors had grown and how they had consolidated that growth over time. Jonathan was interested in growing the business through international expansion and was keen to establish a base in Dubai, following successful expansion in Poland. We looked at the different options available in Dubai to complement Elstead Lighting’s growth plans, which included building a business from scratch or acquiring an established business. Our analysis of the various routes to market, challenges and potential benefits, helped to facilitate Elstead Lighting’s decision making.
Managing a fast-growing business
Jonathan and his team were interested in the purchase of an established Dubai-based company in the adjacent ceiling fan market. The business had a local warehouse and sales team, making it an appealing option from which to build. In 2020, they plan to find a larger warehouse with a showroom to help showcase lighting and ceiling fans to a wider audience in this region. Grant Thornton UAE provided support on the acquisition process in the United Arab Emirates (UAE) market by assembling relevant market information and intelligence to help Elstead Lighting make an informed decision. The growth 365 team helped to facilitate the initial negotiations, managing expectations for both parties around the process and the realistic value for the business. The combined support of both Grant Thornton teams resulted in a successful acquisition and establishment of another strategic international base for Elstead Lighting.
Elstead Lighting is at an exciting and pivotal stage. With the acquisition in Dubai, the company is on course to grow its Middle East regional business from £250,000 to £2.5 million in the next five years.
“It’s been great working with someone as driven as Jonathan. It was fascinating to understand how the biggest players in the market have evolved to their current positions, and we look forward to seeing the success of Elstead’s expansion in the Middle East.”
Jonathan McGill, Growth Adviser
About our team
Growth 365 are a team of entrepreneurs, innovators and experienced CEOs who have grown mid-market businesses. We support ambitious business leaders and their leadership teams by addressing your biggest challenges – so you can focus on what you do best – running a successful business. We help many of our clients expand overseas and achieve international growth. Our international service is supported by the Department of International Trade.