How our partnership began
Credo invested in Q-Light in December 2021 to help realise the Company’s full potential. The Company had seen impressive financial performance after the Founders joined full-time in 2020, and growth prospects were strong, supported by a large and growing lighting market with no established number-two player.
Q-Light has a distinct value proposition towards electricians and proven competitiveness vs market leaders. With an innovative product range designed to ease installation, growing an already solid lighting platform was the cornerstone of the investment case, with M&A as a tool to accelerate growth. Since then, Q-Light has entered the EV segment and built a market-leading position within pedestals. A self- developed EV charger was further launched, creating a synergetic position in this segment.
Recent results
Following a record-breaking year in 2022, Q-Light faced significant challenges in 2023. Market conditions declined, and the company experienced a critical shortage of sales personnel, compounded by factors beyond its control. The delayed launch of a promising new EV charger further impacted sales, leading to weaker financial performance and highlighting the need for better internal financial visibility and procedures.
Despite these hurdles, Q-Light focused on strengthening its organisation throughout the year. The rapid growth in 2022 exposed gaps in the execution model, prompting a renewed focus on improving internal systems and routines. By mid-year, Q-Light had brought on a highly experienced CCO and several top-tier salespeople, significantly bolstering the team and positioning the company for continued growth in 2024.
Recent results
Looking ahead, Q-Light anticipates a challenging 2024, especially as the lighting market, particularly in the residential segment, continues to face headwinds. However, the company is shifting its focus toward the more resilient non-residential and industrial segments, with ongoing research and development aimed at enhancing its product offerings in these areas. Q-Light is poised for a rebound, with several key initiatives laying the groundwork for future growth.
The successful launch and market penetration of the new EV charger and EV pedestals will be crucial in navigating the competitive landscape. With solid market fundamentals and global environmental trends supporting its position in e-Mobility, Q-Light expects sales momentum to accelerate in the latter half of 2024, setting the stage for long-term success.
