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Issue Date: 4th March 2008
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Hamble laser company to join international organisation
Hamble-based
Point Source Ltd, a leading laser technology company, is to join the world-renowned
Qioptiq Group, a unique international organisation dedicated to the development
and manufacture of innovative optical solutions.
Point Source, a specialist producer of fiber optic laser delivery systems
and lasers, currently employs 70 people at its Hamble facility and, in 2007,
generated revenues of £12 million.
David Pointer, founder and managing director of Point Source said: “This
is a very exciting next step in our journey. Joining The Qioptiq Group opens
up a range of international markets for us resulting in a broader range
of products and services for our customers.”
The announcement comes as the company celebrates the most successful six
months of trading since it began in 1991.
“Qioptiq liked us because of our technology, our people and our way
of working all of which have led us to our success,” said David, “And
there are no plans to change any of them”.
Point Source will keep its name and become part of Qioptiq's Optical Systems
Division, which focuses on advanced optical system solutions for the strong
growth markets of IT & Communications, Healthcare & Life Sciences,
Industrial Manufacturing and Microptics.
Integral to the success of the deal, which was signed for an undisclosed
sum, was the support of two local companies; Grant Thornton in Southampton
who advised the shareholders throughout the process, and Blake Lapthorn
Tarlo Lyons which undertook the associated legal work.
Grant Thornton corporate finance partner, Simon Davies, explained: "We're
delighted with the success of the deal. We're totally committed to the local
marketplace and are intent on getting the best possible outcomes when advising
businesses in the South."
ENDS
Editorial contact:
Rachel Owen, Freshwater Technology Tel: +44 1794 521156
rowen@freshwater-uk.com
Editorial Contact Freshwater Technology