Wästberg Announces Investment by XAL
Wästberg, the Swedish lighting company founded by Magnus Wästberg in 2008, has announced a new partnership with XAL, the Austrian lighting specialists. The move sees Magnus Wästberg and XAL buy-out the founding shareholders and XAL becoming the sole minority partner in the business.
Wästberg has collaborated with some of the world’s leading architects and designers including David Chipperfield, Ilse Crawford, Sam Hecht and Kim Colin of Industrial Facility, Inga Sempé, Oki Sato, Jasper Morrison and John Pawson and XAL’s investment is a strong endorsement of Wästberg’s position as an independent, design-focussed lighting company. More importantly the arrangement signals a step change in the evolution of Wästberg, giving the brand immediate access to the R&D, production and distribution resources of one of best technical lighting producers in the world.
Magnus Wästberg remains as Wästberg’s CEO and the majority stakeholder in the business and Wästberg will remain an independent company and brand, which will continue to be headquartered in Sweden.
The deal will also see Wästberg produce the majority of their lamps in XAL’s state of the art production facilities in Austria and Slovenia and XAL’s sales teams represent the Wästberg brand in key markets.
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