In a strategic move set to reshape the European industrial lighting landscape, Northumberland-based Raytec Ltd has announced the acquisition of Finnish portable lighting specialist Atexor Oy.
Strategic Expansion into European Markets
The deal represents a significant step for the Ashington-headquartered company as it seeks to strengthen its position within the European Union following Brexit uncertainties. Raytec's purchase of Espoo-based Atexor creates an enlarged group employing 117 people, combining Raytec's 96-strong workforce with Atexor's 21 employees.
While the financial details remain undisclosed, industry observers note this acquisition demonstrates Raytec's commitment to maintaining and expanding its European market presence. The company's most recent accounts reveal exports already account for 55% of its £17.3 million turnover, with Europe representing a key export market alongside the Middle East, America, Oceania and the Far East.
Enhanced Capabilities in Hazardous Environments
This strategic acquisition significantly broadens Raytec's product portfolio in the specialised field of hazardous area lighting. Founded 20 years ago, Raytec has established itself as a leader in LED lighting for security and safety-critical applications across four main markets: hazardous area lighting, video surveillance lighting, transport sector lighting and heavy industrial lighting.
Atexor brings complementary expertise in robust, portable and temporary lighting systems designed for demanding environments in sectors including oil and gas, petrochemical and manufacturing. Established in 1983, the Finnish company has built a strong reputation for technical excellence that perfectly aligns with Raytec's commitment to innovation.
Future Growth and Customer Benefits
Raytec Managing Director David Lambert emphasised the strategic importance of the deal, stating: "Atexor's reputation for technical excellence and quality perfectly complements Raytec's own commitment to innovation in illumination. Bringing Atexor into the Raytec family strengthens our market position and allows us to serve our customers with a broader portfolio of hazardous area lighting to suit any hazardous area requirement."
Customers stand to benefit from the combined expertise of both companies, with enhanced research and development capabilities and an expanded service and support network. Despite the acquisition, Atexor will continue to operate as an independent company and brand, maintaining its established market presence while leveraging Raytec's global distribution networks.
Jukka Viitasalo, Managing Director of Atexor Oy, commented: "The sale marks an important step for Atexor Oy, opening new opportunities for continued development under the new ownership. We look forward to building on our strong foundation and continuing to serve our customers with the same commitment and quality."
The acquisition supports Raytec's ambitious growth strategy, which includes expanding its global footprint through its wholly-owned American subsidiary, Raytec Systems Inc., and distribution partner networks worldwide. With the company reporting an operating profit of £2.8 million in 2024, this strategic move positions the combined entity for accelerated growth in the specialised hazardous area lighting sector.
