Excelitas to Acquire Luxium Solutions
Excelitas has signed a definitive agreement to acquire Luxium Solutions, a provider of high-performance materials, substrates, components, and assemblies, headquartered in Hiram, Ohio. The deal is expected to close in the coming months, subject to customary and regulatory conditions.
This acquisition would represent the seventh completed transaction by Excelitas since 2017, building on the momentum of the Noblelight acquisition in January 2024.
Luxium provides single crystal scintillation materials for radiation detection applications, as well as sapphire and garnet substrates for high precision optics and power electronics. The company has capabilities in crystal growth, packaging, and integration. Addressed markets include medical imaging, security and border protection, semiconductor, aerospace and defense, oil and gas, and other industrial markets.
Excelitas will also add the capabilities of Inrad Optics, a provider of advanced optical components, assemblies, and systems, which Luxium acquired last year. Excelitas sold select aerospace and defense electronics businesses to Teledyne in a deal valued at $710 million in cash last year.
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