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Succession buyout completed at growing tech business

Succession buyout completed at growing tech business

Laser 2000 (UK), a leading reseller of optics and photonics technologies which is based in Huntingdon, has completed a succession buyout to broaden employee ownership and strengthen the business for continued growth. The existing senior leadership team of Alan Hughes, Geoff Mudge and Guy Holmes are joined by Dr David Gillett, who has a strong hi-tech and manufacturing background, as group managing director. Nick Tiley, a veteran finance director with a scientific instruments and engineering background, also joins the executive board as group finance director and a number of other employees also become shareholders. PEM Corporate Finance was appointed by the founding shareholders to oversee the process. David Gillett said: “This buyout is the first step in enabling employee share ownership to give staff a stake in the successful culture they help to create. I’m delighted to be leading the business into its next phase of growth as we seize opportunities to grow into adjacent strong sectors in the UK and USA.”

Since 1992, Laser 2000 has developed close relationships with photonics, optics, telecoms and network product manufacturers worldwide. The company, which also has a US operation, serves a wide range of sectors including life sciences, telecoms, aerospace & defence, energy, healthcare and education.

Lake Falconer, partner at PEM Corporate Finance, said: “Laser 2000 is a great example of a knowledge-led business and its growth has been underpinned by its people’s deep product knowledge allied to a very strong service ethic. The directors nurtured this special culture at Laser 2000 and we’re delighted to have helped them deliver a succession buyout which sets the company up to continue its growth trajectory”. Mike Matthews and Joanne Sinclair of Roythornes Solicitors and Andrew Cooper of Greene & Greene Solicitors provided legal advice and funding was provided by Santander’s growth capital team.

See Profile PEM Corporate Finance

 

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