Lucy Group Ltd buys Brazilian business

Lucy Group

Oxford-based Lucy Group Ltd, which operates four main businesses in real estate, electrical distribution, streetlighting and castings manufacturing, has bought a medium voltage switchgear business in Brazil from the Spanish electrical power group, Arteche.
The new, Lucy Arteche, will benefit from Arteche’s experience and expertise in medium voltage, air-insulated switchgear products in South America as well as introducing Lucy Electric’s products into the region.

John Griffiths, CEO of Lucy Electric, said: “With this strategic acquisition, Lucy Electric enters the developing markets of South America in line with our business development plan.”

Alex Artetxe, CEO of Arteche Group, added: “Arteche will support Lucy Electric to maintain a close relationship and service with our customers and suppliers.”

Lucy Group, which turned over £192 million in 2016, employs in excess of 1300 people worldwide.