xénos business angel, Aubrey Greene snaps up Photogenic in acquisition deal

16 February 2012

The future looks bright for Photogenic Ltd after new owner and xénos investor, Aubrey Greene acquired the company in an undisclosed deal from founder, Tony Lake.  xénos Regional Manager, Richard Bonfield brokered the deal which sees Greene take over as Managing Director at the Llanidloes-based company.

Photogenic manufactures and distributes commercial photographic filters for a growing international market, having won contracts to develop specialist photographic products in Europe and the US.  Currently targeting the photographic, medical and water purification filter markets, the company is diversifying into industrial filter markets.

Commenting on the acquisition, Greene said: “I’d been looking to buy into an established company in mid-Wales for two years and when xénos introduced me to Photogenic, I was impressed by its innovative approach, global activity and skilled workforce of 20.  From the outset I felt I could work with Tony and the employees to build on the company’s achievements.

“The photographic market has been greatly impacted by the advent of digital technology, but Photogenic has actively sought out new opportunities to broaden its market niche and expand internationally,” Greene continued.

Photogenic works closely with its customers to develop bespoke filtration products and this has been central to its success for over 17 years.  This customer-led approach to innovation has helped cement its customer base and will be the cornerstone of its future expansion plans.

Founder and former Managing Director, Tony Lake is pleased to be handing over the reins to Greene.

“Naturally I’m very proud of Photogenic’s achievements as we’ve built the company from scratch.  It’s a manufacturing company with global reach, based here in the heart of Mid Wales.  When the time came for me to retire, I wanted to make sure the new owner understood what the business still had to offer,” said Lake.

“We needed a buyer with commercial vision as well as the capital to take the business forward.  Working with xénos, and particularly Richard Bonfield, helped us find that buyer. Richard’s expertise and xénos’ extensive network were invaluable. I’m really pleased Photogenic has a future in Powys and I’m confident it will go from strength to strength under Aubrey’s leadership,” continued Lake who will on stay in the medium-term to advise on future product development.

Explaining xénos’ role in the acquisition, Richard Bonfield said: “When Photogenic joined xénos, I knew there’d be a lot of interest because Tony Lake had built a profitable and truly international company with great potential.  My challenge was to find the right buyer and I knew Aubrey would bring a different perspective to the company.  I’m proud xénos has played such a pivotal role in Photogenic’s future.”