Leatherman Tool Group, Inc. signed a definitive agreement to acquire a majority interest in Zweibrûder Optoelectronics GmbH & Co. KB (Solingen, Germany), a manufacturer of LED Lenser flashlights.
brightest, highest-quality LEDs and patented optical, electronic, and manufacturing systems. They are built to withstand the rigorous demands of military, law enforcement, rescue, backcountry and industrial applications.
The light market has experienced strong growth since 2006. Proven performance, cost savings and significant functional advantages over traditional incandescent technology have fueled the adaptation of LED technology by mainstream users. Robust 2010 projected growth for the
lighting industry is estimated at 35%.
Jake Nichol, current CEO of Leatherman, will head up both Leatherman Tool Group, Inc. and the new subsidiary that will become the majority shareholder in Zweibrûder Optoelectronics.
Lenser's innovation and product ideation process, the entire team becomes that much more agile and our business practices that much stronger.”
Rakesh Sridharan, formerly VP of operations at Leatherman, has been appointed president of LED Lenser and will be a managing director of Zweibrûder Optoelectronics. Sven Objartel, already head of operations in Germany, will become a managing director of Zweibrûder Optoelectronics. The current German management team will remain in place and Rainer Opolka will stay active in the business, primarily in product development and marketing.
under the LED Lenser brand. Both companies are committed to allocating the necessary resources to grow and strengthen their brands in their respective locations.