Welsh precision optics manufacturer Phoenix Optical Technologies has been acquired by AIM-listed photonics manufacturer Gooch & Housego (G&H), in a deal supported by FRP Corporate Finance.
Phoenix Optical Technologies produces specialist technology used in applications including radar, lasers, night vision equipment and telescopes, supplying sectors including defence, space and research from its base in St. Asaph, North Wales.
The deal will see ownership of the business transfer to Somerset-based G&H – a world leader in photonics solutions – in a move that will significantly enhance its ability to deliver cutting-edge optical systems to customers in the aerospace, defence, industrial and life sciences markets, and accelerate its growth.
Phoenix Optical Technologies appointed FRP’s Manchester-based Corporate Finance team to support with the deal. FRP’s team, led by partner Adrian Gare, director Alex Starling, and manager Amy Murphy, marketed the business to a targeted audience of potential buyers, subsequently managing negotiations and securing a positive outcome for both parties.
Adrian Gare, partner at FRP Corporate Finance, said:
“Phoenix and G&H are a great strategic fit and this deal will work to leverage their respective strengths for the benefit of both businesses.
“While Phoenix stands to benefit from the growth opportunities that come from being part of a larger group with a significant reach, G&H will now have access to Phoenix’ specialist expertise, innovation and technical excellence.
“It was a pleasure to work with the Phoenix leadership team and I look forward to following their progress as they enter this transformative new chapter in their history.”
Tony Palframan, founder and CEO at Phoenix Optical Technologies, said:
“We are excited to join forces with G&H, a company that shares our commitment to precision, quality, and innovation.
“By combining our expertise with G&H’s global scale and reach, we see tremendous opportunities to further develop our offerings and bring even more value to our customers. The team at FRP were an invaluable support throughout this process, helping navigate every step and deliver a successful outcome.”
