StingRay Optics LLC (“StingRay”) announced that it has been acquired by Gooch & Housego PLC. This transaction is the successful culmination of an initiative led by Peloton Advisory LLC to identify a partner that values and augments StingRay’s intellectual property, human capital talent and New Hampshire-based design and assembly operation.
StingRay, headquartered in Keene, New Hampshire, is a market leader in high performance optical and opto-mechanical design and assembly services for demanding defense and commercial applications. The Company has expertise from the ultraviolet (“UV”) to the infrared (SWIR, MWIR, LWIR) spectrums, with a particular specialty in applications requiring broadband motorized zoom lens assemblies.
Founded in 2004, StingRay has developed thousands of proprietary designs and produced opto-mechanical systems for varied applications, including: Unmanned Aerial Vehicles (UAVs), handheld thermal binoculars, furnace monitoring equipment, and gas detection systems. Christopher Alexay, StingRay’s Founder and President, commented, “With ever-increasing demand for our technology, we recognized that for StingRay to continue to perform at a high level and meet our customers demand, we needed to add the resources and stability of a reputable, international photonics business to best address the market opportunity. We believe that Gooch & Housego is a great cultural fit and will extend StingRay’s ability to best serve both our Military and Commercial customers.”
Mark Webster, Chief Executive Officer of Gooch & Housego, commented: “The acquisition of StingRay meets our strategic aims of moving up the value chain and diversifying the business through increasing our footprint in the Aerospace and Defence sector. It is a profitable and growing business in its own right, which has established an excellent reputation in the US Defence industry for the high quality of its custom optical assemblies. As part of the bigger G&H family we believe it will be able to fulfil its true potential by leveraging our greater reach and our complementary manufacturing and technical capabilities. We are very much looking forward to working with StingRay’s talented management and workforce.”
Gooch & Housego (AIM: GHH), is a photonics technology business headquartered in Ilminster Somerset, UK with operations in the USA and Europe. A world leader in its field, the company researches, designs, engineers and manufactures advanced photonic systems, components and instrumentation for applications in the Aerospace & Defense, Industrial, Life Sciences and Scientific Research sectors.
Peloton Advisory LLC provides M&A and business advisory services to highly successful, privately owned entrepreneurial companies and their owners.