Apollo Global Management, a private equity firm, completed the acquisition of an 80.1% stake in Lumileds, a supplier of LED components and automotive lighting, from Philips, for $1.5bn. “We are fortunate to have Apollo’s and Philips’ support as Lumileds embarks upon our next chapter as an innovator of high performance LEDs and a leader in advanced lighting solutions," Mark Adams, Lumileds CEO.