14th May 2025 15:36
(Alliance News) - Gooch & Housego PLC on Wednesday said it has struck a deal to buy optical systems supplier Global Photonics for USD17.5 million.
The Somerset, England-based photonics components and systems manufacturer said Tampa, Florida-based Global Photonics supplies optical systems for military land applications, including periscopes and fire-control systems.
It also supplies instrumentation for air platforms and other advanced precision optics.
Gooch & Housego said it expects the acquisition to be marginally earnings enhancing in the current financial year and increasingly earnings enhancing after that.
Global Photonics recorded USD11.1 million revenue in 2024 with adjusted earnings before interest, tax, depreciation and amortisation of USD1.8 million.
The deal extends its presence in the US aerospace and defence market as a step towards "replicating the success" of its optical systems hub in the UK with a full optical systems and manufacturing capability in the US, the firm said.
Gooch & Housego said the deal will allow Global Photonics to secure further business with support in laser protection filtering and optical system design.
It said the consideration includes USD8.75 million of cash with USD8.75 million worth of new G&H shares.
G&H expects the acquisition to complete in the "coming few weeks," subject to customary closing conditions.
"Global Photonics is a strong strategic and operational fit for G&H, bringing deep application expertise, strong relationships with US defence primes and complementary manufacturing capabilities to our growing Optical Systems division," said G&H Chief Executive Officer Charlie Peppiatt.
"This acquisition accelerates our plan to become the partner of choice for high-precision optical systems in both the UK and the US and opens exciting new growth channels in North America."
Shares in Gooch & Housego were up 2.6% to 451.46 pence in London on Wednesday afternoon.
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Gooch & Housego