Saratoga acquires GE’s Consumer Lighting Business in South Asia

Bangalore, Jan, 18 2007.

CEMA Electric Lighting Products India Pvt. Ltd. (CEMA) has signed an agreement with GE Consumer and Industrial on 18 January 2007 to acquire whole of the GE’s Consumer Lighting Business undertaking in India, Sri Lanka, Bangladesh, Nepal, Bhutan and Maldives.

Under this agreement of sale, CEMA has acquired the CEMA brand and have a license to produce and market consumer lighting products and consumer luminaires in India under the GE brand name. CEMA has also acquired the consumer lighting manufacturing facility at Limbasi, Gujarat.

Employees, Workmen at the Limbasi plant, the Consumer Sales Team and a majority of the Auto OEM and Specialty Lighting sales teams will be transferred to the new company, CEMA. CEMA has agreed to provide transferred employees with a pay and benefit plan that as a whole is similar to what they enjoy today.

CEMA Electric Lighting Products India Private Ltd. (CEMA) is a subsidiary of Saratoga Lighting Holdings; a company focused on the global lighting industry and has operations in several countries including USA, China and India. The goal is to grow the company into a leading provider of lighting products in the world. We are excited about the opportunities provided by the growth in India and are plan to position CEMA as a leading lighting company in India. The company also plans to set up a Fixture manufacturing facility which will cater to the growing needs of the Indian market.

Saratoga Lighting is a portfolio company of Saratoga Partners, a U.S. based private equity firm that manages a group of investment limited partnerships with approximately $750 million of committed and invested institutional equity funds. Since 1984, the Saratoga partnerships has acquired or invested in 33 portfolio companies with an aggregate enterprise valuation of approximately $3.7 billion in a variety of industries.

CEMA is led by Chief Executive Mr. Sabu Krishnan, who has spent more than 26 years in the lighting industry and has significant experience in running international operations. Mr. Krishnan has established and run several lighting related operations in India. He has also established and run miniature lamp operations in USA and China and has successfully established relationships with various international customers. He also has established manufacturing and supply chain for supplying machine parts and sub-assemblies to GE Lighting division in USA.