Aurelius has acquired Calumet International Ltd, a holding company comprising both pan-European multi-channel photography retailer Calumet Photographic (Calumet) and professional lighting producer Bowens Lighting (Bowens).
The company was bought from Calumet Holdings for an undisclosed sum.
Calumet Photographic is a multi-channel retailer of branded and own-label photography equipment and services with 17 locations across the UK, Germany, Belgium, and the Netherlands. Calumet’s expanding online business and pan-European network of specialist stores offer a premium purchasing experience across all channels to a diverse customer base of photography enthusiasts, professionals, and companies. Aurelius’ investment will allow Calumet to upgrade current locations, further grow its rental offering, and open new stores in additional cities.
Bowens Lighting is a leading brand of professional studio and lighting equipment headquartered in Colchester, UK. Its products are sold in Calumet stores and by other select specialist distributors, with a new range due to appear on the market shortly.
In 2015, Calumet and Bowens recorded combined revenues of EUR110 million.
Commenting on the acquisition, Dirk Markus, CEO of Aurelius, says: “Calumet is an exciting company, and one for which Aurelius’ operational specialism is very well suited. We are delighted about this acquisition and continue to look for further opportunities with comparable development potential.”
Tristan Nagler, Managing Director of Aurelius in the UK, says: “Calumet’s multi-channel business model combines a strong online offering with an established bricks-and-mortar presence across Europe. This strategy matches Aurelius’ pan-European focus and appeals to high-quality camera suppliers, who increasingly prioritise customer service and expertise among retailers. We are confident that, by providing the current management team with the financial and hands-on operational support to implement their development plan, we can capitalise on the opportunity created by the ongoing growth in the high-end segment of the photography market.”
Christof Bergmann, Managing Director of Calumet Photographic, says: “The Calumet team is excited to continue the development of the business and the roll-out of outstanding photography retailing to more cities and countries with Aurelius’ support. For some time we have been looking to grow Calumet in more locations following successful openings of new stores or refits in London, Stuttgart, Essen, and other European cities, with particular opportunities for growth in the underserved UK market. The investment from Aurelius will provide the financial backing and additional operational capabilities required to deliver this plan.”
