17 Sep 2020
Vermont-based manufacturer of optical filters and coatings for spectroscopy is going for growth.Omega Optical, a Vermont, US-based manufacturer of precision optical filters and coatings, has been acquired by Artemis Capital Partners, a Boston, MA,-based private equity firm focused exclusively on partnering with differentiated industrial technology companies. Financial details were not disclosed
Omega has been developing and fabricating precision optical filters and coatings since its founding in 1969 by Dr. Robert Johnson. The company's filter products enable a range of applications including flow cytometry, fluorescence microscopy, spectroscopy, LiDAR, machine vision, and satellite imaging. Its markets span global OEM customers in the life science, aerospace and defense, instrumentation, semiconductor, environmental and industrial sensor industries.
"Having recently celebrated our first fifty years as a company, we are delighted to partner with Artemis and continue growing here in Vermont for the next fifty years," commented Omega Founder Dr. Robert (Bob) Johnson.
Omega's CEO Thomas Smith added, "With the strategic support of Artemis, we gain critical additional resources to build on our legacy here in Brattleboro. We will continue to pursue further job growth and employee development and be an active member of both the local community and the greater Vermont economy.
“Our understanding of our core markets, technology and value proposition allowed us to quickly align on the key priorities for Omega's next phase of growth. Our customers and channel partners can count on a seamless transition and an unwavering focus on quality, delivery, and application expertise."
Peter Hunter, Managing Director at Artemis and new Chairman at Omega, commented, "In Omega, we saw a company with an innovative culture, exceptional technical capabilities, and a desire for growth. Omega's deep applications expertise, OEM business model and differentiated technologies are signature characteristics of an Artemis partner company."
Optical technology platform
Euan Milne, VP at Artemis and new Board member at Omega added, "We are thrilled to partner with the talented Omega team and are honored to help build on the longstanding success of the Company. Omega represents the first company of Artemis's Optical Technology platform, which will serve the growing global demand for high precision, no-fail optical coatings, components and assemblies."
Artemis recruited John Ippolito, an experienced photonics industry executive, to join the Omega Board and provide assistance with corporate development activities, including targeting and integrating future acquisitions. Ippolito said, "Omega is a great first step in pursuit of building a larger optics business. The company has a strong position in several high growth end markets that we can build upon. We intend to be active acquirers of complementary businesses to quickly get to greater scale with an expanded product offering."
Omega's existing management team of Thomas Smith and Robert Johnson have retained a significant ownership interest in the company, now known as Omega Optical, LLC, and will continue to lead the business going forward. Omega will continue to operate as an independent company from its headquarters in Brattleboro, VT.
Founded in 2010, Artemis Capital Partners is a Boston-based private equity firm focused on acquiring and growing manufacturers of differentiated industrial technologies, including optics and photonics. Artemis seeks to partner with companies that have strong established management teams, outstanding engineering capabilities, unique products, and expanding niche markets.