LONDON Lumidrives, a U.K. based LED technology provider, has been purchased by Dialight, a leader in applied LED technology, in a £3million deal.
Lumidrives will operate under the name Dialight-Lumidrives and will still be based at Knaresborough. The senior management team of Gordon Routledge and Alison Ambler will also be remaining in position.
The purchase should enable Lumidrives to continue investment and help the company improve global market share, especially in the U.S. where Dialight has a strong presence.
The acquisition follows Lumidrives’ recent growth, turnover doubling in 2004 and rising by a further 25% in 2005 to £3.5million. This strong growth follows the launch of successful new products and a rise in export sales.
Routledge, Lumidrives’ managing director, said, “We can now tap into resources which are focused in the LED market place. These will help us continue our new product investment and also help strengthen our export sales-which already account for 40% of turnover.”
Roy Burton, chief executive of Dialight Plc added, “The acquisition of Lumidrives will position Dialight n the emerging solid state lighting market. We are acquiring not only a good product but also a strong customer base and an enthusiastic and capable management team who have demonstrated by results their ability to grow profitably in this market.”
Dialight plc, formerly The Roxboro Group, is headquartered in Farmingdale, NJ and operates in two principal segments; components, where low brightness LEDs are used for status indication in electronic equipment, and signals/illumination utilising the latest high brightness LED technology for traffic and rail signals, obstruction lighting and industrial and architectural lighting.