Optek Systems acquired by Safety Technology Holdings
OpTek Systems, a manufacturer of laser processing equipment and provider of micro-machining and optical fibre processing services, has been acquired by Safety Technology Holdings (STH), a portfolio company of UK-based private equity firm Bridgepoint. Financial terms of the agreement were not disclosed.
STH is a holding company with well-known niche test and measurement sector companies including: vehicle safety company Humanetics Innovative Solutions; specialty optical fibre manufacturer Fibercore; and sensor manufacturer HITEC Sensor Developments.
Founded in 2000, OpTek has built a reputation as a highly respected provider of laser processing solutions, combining its core expertise in lasers, optics and laser materials interactions with a high-degree of automation. OpTek is headquartered in Oxford, UK and also operates a state-of-the-art processing ITAR compliant facility in Greenville, South Carolina. The company’s products include laser optical fibre processing and micro-machining equipment used in various mission-critical applications for which precision is crucial. OpTek is also a leading contract supplier of complex optical fibre assemblies and laser processing services including micro-machining and optical fibre stripping, lensing, fusing and cleaving.
Christopher O’Connor, president and CEO of Safety Technology Holdings commented, ‘We are very excited to welcome OpTek into our family of companies. OpTek’s innovative solutions and market leadership position complements our corporate portfolio well. By adding them to the STH family, we are able to enhance further our position in optical fibre solutions, giving us a deeper presence in this rapidly expanding market.’
‘We have worked closely with the OpTek team for many years on a number of development projects and are excited for them to join us in the STH family. They have been an important partner for us and are highly respected for providing high-quality, innovative solutions at a competitive price point.’ said Chris Emslie, CEO of Fibercore. ‘Whether for datacom connections, fibre sensors, medical filters or other highly technical systems, it is well known in the industry that OpTek is able to do things that are unmatched by even the biggest competitors.’
OpTek’s founder and CEO, Mike Osborne, will continue in his current role post-closing. Dr. Osborne commented, ‘STH is a first-class, highly technical and innovative organization with a long history of investing in niche market leaders. They have the size and technical capabilities to build on our past success and to help to accelerate our growth plans. Their portfolio companies offer complementary services to our own and we are excited about the many projects we will be able to pursue together. They are the perfect partner for us.’