Starlight is the leading Swedish rental and touring company for the entertainment industry. The company offers its customers turnkey solutions covering technical equipment, stage structures and logistics. Starlight was founded in 2006 through a merger between United Audio AB and Starlight AB. The new group comprising Eastavab and Starlight is expected to generate a turnover of approx. €75 million in 2012.
”Our strategy together with Eastavab management is to build a leading player in the Nordic audiovisual equipment rental market. The merger with Sweden’s top equipment rental company Starlight is a significant step towards achieving this goal. We see major growth potential in Sweden both organically and through acquisitions”, says Olli Liitola, Senior Partner at CapMan and responsible for Eastavab investment.
“We are excited to become part of a large Nordic group. With support from CapMan, the group is well positioned to grow and become a clear market leader in equipment rental across the Nordic region”, says Per Eriksson, CEO of Starlight.
”Starlight is an excellent addition to Eastavab Group. Through the merger, we are establishing a true Nordic platform with the scale, product range, competence and geographic presence to provide customers and partners with the industry’s best solutions, services and products. Furthermore, we can achieve greater efficiency in operations and significant synergies in e.g. purchasing of equipment. Sharing best practices and optimising our offering in the Nordic level enables us to provide a wider range of services and products to our customers, and to achieve cost savings in subcontracting”, says Trond Lutdal, CEO of Eastavab.
Completion of the transaction is subject to certain conditions being fulfilled and it is expected to occur during May 2012. Following the merger, the owners of Starlight will become shareholders in the holding company Eastavab Group.
Olli Liitola, Senior Partner, CapMan Buyout, tel. +358 400 605 040
Per Eriksson, CEO, United Audio Starlight AB, tel. +46 226 77323
Trond Lutdal, CEO, Eastavab Group Oy, tel. +47 90544556