Technostrobe, a Canadian manufacturer of obstruction lighting systems for air navigation, has entered the European offshore wind market with the acquisition of a majority interest in ITO Navaids, a Dutch company specializing in marine navigation aids.
The acquisition will see the creation of a comprehensive and integrated range of obstruction lighting solutions for offshore wind farms, while the two companies will be able to synergize their technology and R&D in complementary segments, according to Technostrobe.
The agreement will allow Technostrobe to offer products designed and manufactured by ITO Navaids in North America, the company said, adding that its commercial strength will enable ITO Navaids to expand its presence in Canada, as well as make inroads into the US and Mexican markets.
“Acquiring ITO Navaids forms part of Technostrobe’s growth plan,” said Francis Lacombe , Vice-President at Technostrobe. “It enables us to open a new market in Europe, seize new and exciting business opportunities in marine navigation aids, and offer a comprehensive range of solutions in the emerging market of obstruction lighting for offshore wind farms. Moreover, ITO Navaids’ business profile and corporate culture focused on innovation aligns perfectly with our organization’s DNA.”
Throughout this transaction, Technostrobe had the support of its financial partners, BDC and Desjardins, as well as the legal and accounting advice of Lavery and BDO.
Founded in 2001, Technostrobe provides lighting technologies for wind farms, towers and industrial chimneys, which represent a potential obstacle to air traffic. LIDS (Lighting Intensity Dimming Solution), the company’s latest solution, seeks to build a greater level of community acceptance for wind farms by allowing the lights to dim according to the surrounding visibility.