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22 Nov 2006
Oxford Lasers has been wholly acquired by its own management team.
Oxford Lasers, which provides laser-based solutions for micromachining and imaging-based instrumentation, has been wholly acquired by its management team. The MBO follows a successful period when sales have grown by over 60% in the past 12 months and the company has completely updated its product line.
Oxford's range includes the advanced PicoLase micromachining system which was recently installed at the Manufacturing Engineering Centre, Cardiff, UK, and the industry-proven ProbeDrill series. (See related story).
Previously the company was majority-owned by private equity backers but following the new deal, the management team now owns 100% of the equity.
John Baker, CEO at the company, said, "Oxford Lasers has an outstanding range of products and services and we are well positioned to supply a complete range of laser solutions to customers. We have recently enjoyed one of the most successful periods in the company's history and have clear plans to continue this growth."
Law firm Wragge & Co LLP provided legal advice on Oxford's MBO transaction.
Oxford Lasers
The company was founded in 1977 by a team of Oxford University physicists to exploit the significant advances in laser technology made by Colin Webb's research group at the university. In recent years the company has become a world leader in using advanced laser techniques in commercial applications.
Its goal is to supply complete technical solutions to its customers in the areas of precision laser micromachining and high speed imaging of small particles. The company is based in Didcot, UK, and Boston, US. It has a wide distribution network in other countries, notably Japan.
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