Acquisition of Xenics Infrared Solutions by Photonis

Photonis, a global leader of highly differentiated technologies for defense and industrial markets, held by HLD, has acquired Xenics, a specialist of leading-edge infrared solutions based in Belgium. Gimar & Co has acted as financial advisor to Photonis for the acquisition.

«  With this acquisition Photonis will strengthen its position in the infrared imaging market and progress toward the creation of a European integrated leader in advanced imaging for high-end markets », comments Hubert Chevrinais, Managing Director of Gimar & Co.

Press Release by Photonis

Photonis a global leader of highly differentiated technology for defence and industrial  markets, held by HLD since 2021, today announced that it has signed a definitive  agreement to acquire Xenics, a specialist developer and manufacturer of leading-edge  infrared solutions. 

With over 65 people across the world and headquarters based in Leuven, Belgium, Xenics  is an established infrared Centre of Competence and Europe’s leading supplier of Short  Wave InfraRed (SWIR) imagers steadily growing internationally with sales offices  worldwide. 

By welcoming Xenics to Photonis, the merged group will provide unique high-end imaging  products to their Business-to-Business customers through mastering of component  manufacturing, a large geographical reach and advanced technological capabilities. 

Jérôme Cerisier, CEO of Photonis said: “We are thrilled to welcome Paul Ryckaert and the whole Xenics team in Photonis Group. With this acquisition, we are aiming to create a  European integrated leader in advanced imaging in high-end markets. We will together  combine our forces to strengthen our position in the infrared imaging market.”  

Paul Ryckaert, CEO of Xenics said: “By combining its strengths with the ones of Photonis  Group, Xenics will benefit from Photonis expertise and international footprint which will  allow us to accelerate our growth. It is a real opportunity to boost our commercial, product  development and manufacturing competences and bring even more added value to our  existing and future customers.” 

The operation is financed by Pemberton, CIC and BNP Paribas. 

The transaction is expected to be finalized in the coming weeks. Terms of the transaction  are not being disclosed and are pending customary clearances and approvals. 


About Photonis: 

Accompanied by HLD since 2021, Photonis is a high-tech company, with more than 80  years of experience in the innovation, development, manufacture and sale of technologies  in the field of photo detection and imaging. Today, it offers its customers detectors and  detection solutions: its power tubes, digital cameras, neutron & gamma detectors, scientific  detectors and intensifier tubes allow Photonis to respond to complex issues in environments  extremely demanding by offering tailor-made solutions to its customers. Thanks to its  sustained and permanent investment, Photonis is internationally recognized as a major  innovator in optoelectronics, with production and R&D carried out on 5 sites, in Europe and  the USA. 

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About Xenics 

Xenics is a pioneer of infrared technology with a proven track record of twenty years.  Xenics designs, manufactures and markets infrared imagers, cores and cameras of best in-class image quality to support machine vision, scientific & advanced research,  transportation, process monitoring, safety & security and medical applications. Xenics  offers a complete portfolio of line-scan and area-scan products for the vSWIR, SWIR and  LWIR ranges. Mastering all critical steps of the manufacturing process with advanced  production facilities and in-house know-how on detectors, systems and software  development Xenics delivers state-of-the-art solutions and optimized custom designs.  Xenics ensures its commitment of doing good to the world by developing solutions for  enhancing quality of life and sustainability. As a European vendor with a worldwide sales  and service network, Xenics supports its customers with simplified export procedures.  

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