Luminator acquires Fondaction backed Axion Technologies

Luminator acquires Fondaction backed Axion Technologies
September 15
10:19 2014

Luminator Technology Group (LTG), a portfolio company of Audax Group, has acquired of Fondaction backed Axion Technologies Inc. Financial terms were not disclosed.

Founded in 1974, Axion Technologies designs and supplies advanced Passenger Information, Communication and CCTV systems for the Mass Transit Industry.

Luminator said the Axion acquisition will enhance its Mass Transit portfolio and augment its offering in the passenger information and communication systems.

“I am pleased to announce the appointment of Carl Cassista to the position of President for LTG Global Rail reporting directly to me,” said Avi Zisman, CEO of Luminator Technology Group.
LTG will maintain branding strategy under the Luminator, LAWO, Axion, Focon, Mobitec and TwinVision brand names independent.

Plano, Texas based Luminator Technology is a leading global designer and manufacturer of engineered display, lighting, and passenger communication systems that illuminate, inform and improve the experience of bus, rail, and aerospace passengers worldwide.

In April 2014, Audax Group acquired Luminator from Levine Leichtman Capital Partners.

Axion Technologies had been a portfolio company of Fondaction since 2008. Fondaction made an follow-on investment in 2012 to support Axion expansion.

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