Fixation, which is based in Kennington, south London, was founded in 1988 by Mike Allen, who has announced plans to retire and reduce his involvement in the business.

‘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,’ Allen said.

Wex plans to expand Fixation’s repair and rental capacity across the UK, from its current London base.

Wex Photographic CEO David Garratt 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.’

Allen, a former service manager at Nikon UK, said he was ‘immensely proud’ of the business and of all the hard work his team has put in over the years.

He added: ‘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.’

Wex Photographic was founded in 1997 and has a showroom in Norwich.

Details of the acquisition have not been disclosed.

Allen and co-director Paula Stevens will continue to work for Fixation in an advisory capacity.