Business
Acquisition of Artemis Optical
Acquisition of Artemis Optical.
About this update from Gooch & Housego Plc
[{"type":"text","content":"\n\n \n\n\n\nFor release at 7.00 am\n\n\n19 July 2023\n\n\n\n \nGooch & Housego PLC\n(\"G&H\" or the \"Company\" or the \"Group\")\n \nG&H Enhances Coatings Expertise with the Acquisition of Artemis Optical\n \n \nGooch & Housego PLC (AIM: GHH), the specialist manufacturer of optical components & systems, announces that it has entered into a conditional agreement to acquire the entire issued share capital of Artemis Optical Holdings Ltd (\"Artemis\") for a total consideration of up to £8.9 million. This acquisition further enhances G&H's product portfolio and creates new opportunities for vertical integration and the cross selling of our combined capabilities.\n \nArtemis is a thin-film coating company renowned for its expertise in a variety of cutting-edge applications. It is recognised as a global leader in designing advanced optical filters for tailored electro-optical systems and laser protection, as well as bespoke head-up display combiners. Artemis also works with its customers to develop customised, system-enabling optical filters, mirrors and pioneering helmet mounted display patches. Artemis' products cater to the diverse needs of customers primarily in Aerospace & Defence as well as in the Industrial and Life Sciences markets.\n \nArtemis operates from a modern facility near Plymouth in the UK and employs around 40 people. The newly acquired site will serve as a centre of excellence to coordinate the development of new coatings across G&H and a hugely complementary fit to the Group's existing extensive coating capabilities. \n \nThis acquisition, which is aligned to G&H's new strategy, provides the Group the opportunity to offer both substrates and coating materials of the highest quality that perfectly align with their application or product requirements. By applying G&H's resources, expertise, and worldwide reach Artemis will be able to access new customers and territories for its capabilities.\n \n \nCharlie Peppiatt, Chief Executive Officer of Gooch & Housego, commented:\n \n\"The addition of Artemis' coatings expertise to G&H's capabilities was identified in our new strategy as one of the opportunities to deliver sustainable margin growth for the Company. Artemis' renowned excellence in thin-film coati...