Gooch & Housego acquires US optical systems firm Global Photonics
Gooch & Housego PLC on Wednesday said it has struck a deal to buy optical systems supplier Global Photonics for $17.5 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 $11.1 million revenue in 2024 with adjusted earnings before interest, tax, depreciation and amortisation of $1.8 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 $8.75 million of cash with $8.75 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.
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