A BASINGSTOKE lighting manufacturer has been taken over after 33 years of.

Glamox Group has acquired 100 per cent of the shares of the Luxonic Group Ltd, which operates the Luxonic Lighting manufacturing plant based in Priestley Road.

Glamox has paid £10.15m on a cash and debt free basis as an initial payment for the shares of Luxonic Lighting.

An additional earn-out of £6.75m can be paid conditional on the company’s performance in 2019 and 2020.

Nick Tavaré, managing director of Luxonic Lighting, said: “We are very pleased to become part of the Glamox Group.

"The acquisition marks the start of an exciting new phase for Luxonic Lighting moving from 33 years as an independent business to being part of an international group with all the advantages that brings but without losing our well-established identity in the UK.

"We look forward to further serving our existing and new clients by providing them an even stronger offering through the support of Glamox.”

Rune E. Marthinussen, chief executive officer of Glamox, added: “We are excited about this strategic opportunity that will allow us to further strengthen our position in the UK lighting market.

"The UK market is one of the largest lighting markets in Europe and Luxonic Lighting is a strong system solution provider with a high service level and local manufacturing that is highly recognized by customers.”