Durham lighting firm acquires rival in deal backed by asset finance
- Andrea Stephenson
- 7 hours ago
- 1 min read
A Durham-based lighting manufacturer has acquired a rival business in a deal backed by asset finance.
Artech Lighting has acquired the trade and assets of firm Powerlite Fitzgerald in a deal supported by Anglo Scottish Asset Finance and Close Brothers Broker Solutions.
The acquisition, structured as an asset purchase agreement with the option of ownership, will allow Artech to significantly reduce manufacturing costs, expand its capabilities and product offering, and strengthen both brands as independent entities.
