The laser marking specialist Electrox has merged with leading US laser specialist Tykma in a major deal that will allow the Letchworth-based company to launch ambitious growth plans in North America (
www.permanentmarking.com).
Part of the 600 Group, Electrox has grown significantly in recent years, doubling its turnover between 2009 and 2014, thus prompting the decision to look West.
Managing director Paul Mincher says: “Our recent success has been primarily in the UK and Europe, so the natural target for further growth lies across the Atlantic. We therefore sought a complementary North American company that we could work with.”
The 600 Group has taken an 80% stake in the Tykma business. Tykma CEO David Grimes is CEO of the new merged group, which will be known as Tykma Electrox in the USA and will market equipment from both companies under their existing brand names.
In the UK and Europe, the group will be known as Electrox and all products will be branded Electrox.
Mr Mincher, who will continue to head up European operations as managing director, said: “The merger will create one of the most diverse and powerful companies in the laser marking systems industry. Electrox is a company rich in history, experience and technology.
Tykma is a growing market-driven company with strong leadership. We will combine to create a powerful single business unit. Our global customers will experience an enhanced service, support and knowledge base with access to a diverse range of products.”