Bristol-based specialist corporate finance advisory firm Shaw & Co has helped seal a major deal that will boost the South West’s lead in advanced optical technology.
The firm advised thin-film coating company Artemis Optical on its £8.9m sale to long-established Somerset specialist manufacturer of optical components and systems Gooch & Housego (G&H).
Plymouth-based Artemis is renowned for its expertise in a variety of cutting-edge applications and is recognised as a global leader in designing advanced optical filters for tailored electro-optical systems and laser protection, as well as bespoke head-up display combiners.
It works with its customers to develop customised, system-enabling optical filters, mirrors and pioneering helmet-mounted display patches, with products catering to the diverse needs of customers primarily in aerospace and defence as well as in the industrial and life sciences markets.
Under G&H’s ownership, Artemis will be able to access new customers and territories for its offering by utilising G&H’s resources, expertise and global reach.
Shaw & Co mergers & acquisitions director Myles Hamilton, pictured, said: “This is a highly significant deal for Artemis and the South West that will provide the opportunity for locally developed, cutting-edge technology to expand into new global markets.”
Based in Ilminster, Gooch & Housego is a photonics technology business with operations in the US and Europe.
A world leader in its field, the company researches, designs, engineers and manufactures advanced photonic systems, components and instrumentation for applications in the aerospace and defence, industrial, life sciences and scientific research sectors.
The acquisition of Artemis will further enhance its product portfolio and create new opportunities for vertical integration and the cross-selling of the companies’ combined capabilities.
Artemis had earnings of £700,000 on revenue of £4.3m in the year to 31 March 2023 and gross assets of around £3m at the end of June.
Artemis CEO Nick Hurst said: “This acquisition represents an exciting step forward in the journey of our company.
“We look forward to continuing our growth within the G&H group and realising the synergies that the opportunity brings.
“I’d like to thank Shaw & Co and the rest of the Artemis advisory team in their guidance and assistance in getting this deal completed.”
Shaw & Co, which also has bases in Birmingham, London, Manchester and Glasgow, has a clear objective of delivering a ‘smarter’ means of financing, buying and selling businesses to a growing community of ambitious business owners.
It has led on a number of notable deals including the sale of Bristol-based ethical tea firm Pukka Herbs to Unilever, the purchase of VoucherCloud from Vodafone and its subsequent sale to Groupon, and the sale of GoProposal to Sage.
