T&T based distribution company HADCO Group has acquired the Barbados headquartered Caribbean LED Lighting.
Making the announcement yesterday was CEO of the lighting company Gerard Borely, who said majority ownership of the company shifted to HADCO, after Chairman Jim Reid decided to sell his 70% stake.
The company, which boasts of exporting more than it imports, has major contracts across the region with a number of businesses including Unicomer (Courts) and CIBC FirstCaribbean.
Some of the company’s latest achievements include a US$5 million contract with the Antigua Government to replace 40,000 streetlights, which helped them achieve its most profitable year.
Speaking at the event, HADCO Group CEO John Hadad believes it is a great opportunity for both companies, particularly for the HADCO Group which has already been involved in the Lighting Industry.
The announcement took place at the Caribbean LED’s Lower Estate, St Michael location in Barbados.