Photography retailer Wex Photographic snaps up repair business Fixation
- Credit: Archant
Wex Photographic, the UK's largest online photography retailer, has snapped up repair and rental business Fixation in an undisclosed deal.
Norwich-based Wex said the takeover will help Fixation accelerate plans to expand its services to professional photographers, both in London and across the UK.
The Norfolk firm said the acquisition was a key part of its strategy to reinforce its presence in the professional marketplace.
David Garratt, chief executive of Wex, based on the city's Sweet Briar Industrial Estate, said: 'We have long admired Fixation as a market-leading business which shares our ethos of providing top-class customer service and we are delighted to have the opportunity to support Fixation in further developing its business to support professional photographers across the UK.'
Fixation's core business deals with freelance photographers and major press agencies for the sale, repair and rental of high-end camera equipment.
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Despite the tie-up, Fixation will remain a separate business and will continue to operate from its base in Kennington, London, the firms said in a joint statement.
However, Mike Allen, founder of Fixation, said the deal would lead him to retire from the business in the coming months. Paula Stevens, his co-director, will also wind down her involvement with Fixation.
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Both of them will stay on as advisors to the new combined business.
Mike Allen, who founded Fixation in 1988, said: 'Paula and I are immensely proud of the business we have created and of all the hard work our fantastic team have put in over the years to support us.
'Our company has an unparalleled reputation amongst professional photographers.
'After 27 years, it is time to hand over the baton to a new team to take the business forward.
'We look forward to seeing Fixation go from strength to strength with the extra skills and experience that the Wex management team will bring to the mix.'