Gooch & Housego acquires Spanoptic, maker of precision optics
Ilminster, England--Gooch & Housego (G&H) has completed the acquisition of the entire issued share capital of Spanoptic (Glenrothes, Scotland), a manufacturer of spherical and aspheric lenses and diffractive optics for applications in the ultraviolet, visible, and infrared regions of the spectrum.
Founded in 1976, Spanoptic currently employs 62 people and in 2012 had revenues of £7.7 million and made a profit before tax of £1.0 million. Spanoptic had net assets of £5.5 million at acquisition, including net cash of £0.7 million. The gross cash consideration paid by G&H was £6.6 million, funded from existing cash and debt facilities. The acquisition is expected to be earnings enhancing in the first year of ownership.
G&H says that Spanoptic's precision optics are highly complementary to its predominantly planar optics business and enhances G&H's ability to provide complete sub-system solutions in line with its strategic objectives. Spanoptic's capabilities in infrared optics and coatings are particularly relevant to G&H's activities in the aerospace and defence sector. Spanoptic will continue to operate from its Glenrothes factory and will continue its role as a long-term supplier to G&H, which accounted for approximately 1.5% of Spanoptic's turnover in 2012.
In recent years Spanoptic has invested heavily in state-of-the-art optical manufacturing, metrology, and thin-film coating equipment. As a result, Spanoptic has been able to win business and develop strong, mainly European customer relationships in applications including analytical instrumentation, optical sensing, security, imaging, life sciences, and aerospace and defence. Spanoptic also has a strategic alliance with a Far Eastern manufacturer of precision optics, opto-mechanics, and instrumentation, enabling it to offer a broader range of products and services than would otherwise have been possible.
Conard Holton
Conard Holton has 25 years of science and technology editing and writing experience. He was formerly a staff member and consultant for government agencies such as the New York State Energy Research and Development Authority and the International Atomic Energy Agency, and engineering companies such as Bechtel. He joined Laser Focus World in 1997 as senior editor, becoming editor in chief of WDM Solutions, which he founded in 1999. In 2003 he joined Vision Systems Design as editor in chief, while continuing as contributing editor at Laser Focus World. Conard became editor in chief of Laser Focus World in August 2011, a role in which he served through August 2018. He then served as Editor at Large for Laser Focus World and Co-Chair of the Lasers & Photonics Marketplace Seminar from August 2018 through January 2022. He received his B.A. from the University of Pennsylvania, with additional studies at the Colorado School of Mines and Medill School of Journalism at Northwestern University.