The Vitec Group is eyeing more acquisitions after adding two more equipment companies to its camera accessories interests.

The UK plc, which owns Vinten Radamec, Sachtler, Autoscript and Anton/Bauer, has picked up the business and assets of the Californian LED lighting business Litepanels in a potential $64.5m (£36m) deal.

The acquisition follows the purchase of the London-based tripod and crane rental company the Camera Store for£400,000 earlier in August.

Vitec Group broadcast systems division chief executive Joop Janssen said that its acquisitions - the 10th and 11th such deals in under four years - were crucial to the company's growth plans.

“Our shareholders are encouraging us to grow faster than market conditions allow us to organically,” he said. “We will continue to look for companies that are both a good fit in terms of product and distribution and also culture and organisation.”

The purchase of the Camera Store will allow Vinten and Autoscript's hire departments to move to London, creating a combined hire office and increasing Vitec's ‘visibility' in the capital.

The acquisitions come on the back of a 26% increase in half-year revenues to£159.1m and a 21% improvement in underlying pre-tax profits.

Janssen says there is further financial growth to come, even if a global recession starts to bite. “The transition to HD is less than half completed and there are many more cameras to convert to HD,” he said. “In the US, HD conversion is at 60% to 70%, but in Europe it is only at about 10% to 15%. We will benefit from that, regardless of any recession.”

The Vitec Group, based in Kingston upon Thames, employs more than 2,000 people worldwide and has an estimated market value of£210m.