Climate Change Capital's Nualight buys Dutch rival Lumoluce

Nualight Ltd., an Irish lighting company backed by London-based investor Climate Change Capital Ltd., bought Lumoluce BV, a Dutch maker of light-emitting diode technologies that improve energy efficiency.

The deal values Lumoluce at more than 10 million euros ($13.7 million), Nualight said Tuesday in an e-mailed statement. It boosts Nualight's portfolio of accent lighting, spotlights used in supermarkets to light food displays.

Climate Change Capital "supported Nualight in negotiating and funding the acquisition with a further 4 million-euro investment alongside the existing shareholders of the company," according to the statement.

The acquisition allows Nualight to double the speed at which it brings new products to market, Chief Executive Officer Liam Kelly said in the statement.

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Climate Change Capital's Nualight buys Dutch rival Lumoluce