John Selldorff of Legrand Comments Exclusively to the EdisonReport
Yesterday, your humble editor spoke with John Selldorff President and CEO of Legrand, North and Central America, regarding their acquisition of Focal Point. Selldorff said, “These are exciting times as we are seeing the maturation of LED Lighting.”
Selldorff told me that Focal Point fit their strategy, stating, “Buying an innovative company is much more important than buying a larger company.” Selldorff further explained that Legrand has no desire to be in every segment as their independent strategy allows the rep to create a package using the best lines and products available—and not forcing one rep to carry all of their lines.
I asked Selldorff about the acquisition price to which he had no comment. One Focal Point competitor tells us it is in the $300M to $400M range, but we are unable to confirm. A Vice President at a large conglomerate, simply says, “It was a big one.”
My most important question dealt with the future of Chris and Mike Thornton. Selldorff explained that they are both staying on and that Chris will continue to run the company.
Over the years we have heard much about the success of Focal Point and we have tried to get Chris Thornton for an interview. A few years ago, Chris finally told me why he refused my requests. He explained that they are tremendously successful, and they do not want publicity, as Focal Point wants to stay below the radar of their competitors. He did not want competitors to know just how successful they were until it was too late.
Read the Legrand Press Release here.