October 18, 2013—Specialist optical components and systems manufacturer Gooch & Housego PLC (Illminster, England) announced on October 15 the acquisition of precision-optics manufacturer Spanoptic Limited (Glenrothes, Scotland) for £6.6 million. Spanoptic will continue factory operations in Glenrothes and business with its existing customers.
Spanoptic reported 2012 revenues of £7.7 million, and net assets of £5.5 million at acquisition. Gooch & Housego expects the acquisition to enhance earnings in the first year of ownership.
Spanoptic manufactures spherical and aspheric lenses and diffractive optics for use at UV, visible and IR wavelengths, which complements the predominantly planar optics of Gooch & Housego. The Spanoptic capabilities in IR optics and coatings will also be complementary to Gooch & Housego’s aerospace and defense business.
According to Gareth Jones, CEO at Gooch & Housego, “The acquisition of Spanoptic strengthens Gooch & Housego’s core precision optics manufacturing capabilities and provides a sound foundation for developing our sub-systems business.”