Feb 05, 2018

IEP Technologies Acquires Atexon Oy

Spark detection complements safety solutions portfolio

Effective February 1, 2018, IEP Technologies, a member of the HOERBIGER Group, has acquired business operations, the portfolio, patents and trademark rights of Atexon Oy, a company headquartered in Oulunsalo, Finland, specializing in spark detection and extinguishing for industrial explosion protection.

Since the company's inception in 2009, Atexon Oy has made a name for itself far beyond Finland's borders with innovative early spark detection
and extinguishing solutions in dust applications. The development of the owner-operated company has been most remarkable. Its unique portfolio includes spark detection systems, flame detectors, overheat detectors, as well as backfire detectors for industrial applications.

Just one of Atexon´s product innovations is its patented Spark Detector
with its extra-wide 180-degree field of view and a broad spark detection spectrum. These, together with an optional daylight filter, are unique product characteristics which provide highly reliable protection even under extreme conditions. The decentralized system architecture means simplified installation, reduced costs and through its redundant design provides maximum reliability.

Going forward, HOERBIGER will use the IEP Technologies global distribution network to offer the Atexon protection solutions. Atexon Oy's CEO and R&D Director Mika Vannas along with the company's management will remain in place. The team will offer its experience and expertise to all IEP Technologies customers and serve as the center of excellence for the detection and extinguishing of sparks which can be an ignition source for industrial explosions.

The parties agreed to keep the value of the transaction confidential.

"For HOERBIGER and IEP Technologies, the acquisition of Atexon Oy is
an important milestone. Atexon´s innovative technical systems for the detection of sparks will further enhance our world-class explosion protection solution offerings, ensuring we can offer our customers a full range of effective explosion protection measures from a single source," says Randy Davis, President IEP Technologies.

"I am delighted that we have been successful in setting the course of Atexon Oy's future with IEP Technologies," adds Mika Vannas, CEO, R&D Director and current majority shareholder of Atexon Oy. "Our vision and ideas will be able to grow under the IEP Technologies umbrella. We will collectively strive to help a growing number of customers protect people and equipment against explosions with leading technology. Together we save lives."

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