Enfis acquires PhotonStar in reverse takeover

Lighting technology company Enfis Group has agreed to acquire PhotonStar LED in a £5.1 million reverse takeover.

This will see the combined group expand significantly.

AIM-quoted Enfis plans to finance the deal with a placing of new shares and following the acquisition, which requires shareholder approval, Enfis and PhotonStar will merge to form PhotonStar LED Group.

Enfis, which designs, develops and manufactures intelligent high power light emitting diode (LED) arrays and smart light engines, also announces the company has raised £2 million in conditional placing of 19.7 million new ordinary shares.

Based in Romsey, England, PhotonStar is a LED lighting fixture designer and manufacturer.

According to a company statement, PhotonStar plans to increase product range by adding lighting fixtures for architectural and retail markets using Enfis Group arrays and drivers.

The new products will be sold through PhotonStar’s sales team and existing distribution channels.

Nick Britton

Lexus Ernser

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

Related Topics

Venture capital funding