News Summary
Excelitas Technologies Corp. has announced the acquisition of Luxium Solutions, enhancing its portfolio in advanced optical technologies. Luxium, based in Ohio, specializes in single-crystal scintillation materials and boasts a strong intellectual property portfolio. The acquisition is expected to be finalized in late 2025 or early 2026, marking a strategic growth step for Excelitas. With over 400 employees globally, Luxium’s diverse client base spans various sectors including medical imaging and aerospace, reinforcing the importance of innovation and collaboration in the industry.
Pittsburgh, Pennsylvania – Excelitas Technologies Corp. has announced the acquisition of Luxium Solutions, a company based in Hiram, Ohio. The transaction follows an agreement between private equity owners SK Capital Partners from New York and Edgewater Capital Partners from Cleveland, marking a significant step for Excelitas in enhancing its portfolio of advanced optical technologies.
Luxium Solutions specializes in manufacturing single-crystal scintillation materials used in radiation detection applications. The company is also known for producing sapphire and garnet substrates that cater to high-precision optics and power electronics. With over 400 employees globally, Luxium operates production facilities in the United States, France, and India, supported by sales offices located in China and Japan.
Though the financial terms of the sale have not been publicly disclosed, the acquisition is anticipated to finalize in late 2025 or early 2026, pending necessary regulatory approvals. Excelitas has marked this acquisition as its seventh completed transaction since 2017, which emphasizes its strategy for growth and the expansion of technological capabilities in the industry.
Luxium boasts a strong intellectual property portfolio with more than 170 patents related to its products. The company’s diverse customer base includes over 650 clients across various sectors such as medical imaging, security, border protection, semiconductor, aerospace, defense, and oil and gas industries.
The CEO of Excelitas expects that the integration of Luxium will significantly strengthen their technological capabilities and expand product offerings. Meanwhile, the CEO of Luxium noted the considerable transformation the company has undergone since it was acquired by SK Capital and Edgewater in December 2022. Notable changes included operational enhancements and the effective integration of PLX Inc. and Inrad Optics, which were both acquired in 2024.
Luxium has been making strategic growth efforts, which involve increasing its manufacturing presence in India and investing in product improvements. The acquisition is poised to be a “strong outcome for all stakeholders,” and is expected to support Luxium’s ongoing growth and innovation initiatives moving forward.
This acquisition continues the trend of consolidation within the advanced materials space, where companies are increasingly seeking to enhance their capabilities and market reach. As technology evolves, such strategic decisions will play a crucial role in positioning companies for future success in the competitive landscape of high-precision optics and radiation detection.
Excelitas Technologies Corp’s recent acquisition is not just a strategic move, but it also highlights the ongoing transformation of Luxium Solutions in a rapidly changing market. With both companies set to benefit from this agreement, the focus will remain on innovation and growth in the coming years.
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- Business Wire
- Wikipedia: Excelitas Technologies
- MPO Magazine
- Google Search: Luxium Solutions
- GlobeNewswire
- Google Scholar: Luxium Solutions
- Photonics
- Encyclopedia Britannica: Advanced Optics
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- Google News: Excelitas Technologies
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