Panoramic backs buyout of photonics supplier

Panoramic Growth Equity (“Panoramic”), a leading equity investor in fast growing, entrepreneurial UK companies, today announced that it has supported the employee buyout (EBO) of Photonic Solutions Limited (“Photonic Solutions”). The EBO consists of eight experienced employees, with Andrew Blain leading the team and being appointed Managing Director. Panoramic Partner Stephen Campbell will join the Photonic Solutions board.

Established in the 1990’s and based at Heriot Watt University Research Park, Edinburgh, Photonic Solutions acts as exclusive UK & ROI supplier, installer and service function for many of the world’s leading laser and photonics manufacturers. Photonic Solutions predominantly serves university research laboratories and high-tech industries with a wide range of laser systems, spectroscopy instrumentation, laser diagnostic, detectors and laser safety equipment. Photonic Solutions has an exceptionally high reputation within the industry and is known for its unparalleled technical expertise and customer service.

The photonics industry is a fundamental pillar of modern industry and underpins solutions for the widest possible range of socio-economic needs including medical, security, telecommunications, and manufacturing.

This is Panoramic’s second investment in the photonics industry after their growth capital investment in Cascade Technologies, which was later sold to Emerson Inc.

Stephen Campbell, Partner at Panoramic Growth Equity, commented:
“We are delighted to support Andrew and the team in the acquisition of Photonic Solutions. We were excited by the prospect of supporting the existing employees in buying a well-established business which operates in a technical and growing sector. The team has significant experience of serving many of the country’s top universities and high-tech manufacturers and we are delighted to support a vital sector of the UK’s economy. Photonic Solutions is an exciting addition to Panoramic’s investment portfolio and we look forward to supporting the company’s continued growth.

Andrew Blain, Managing Director at Photonic Solutions, commented:
“We are delighted to have Panoramic on board as our investor.. Our goal throughout the process was to partner with an investor who was supportive of our goal to secure Photonic Solutions future as an employee owned company. Panoramic came highly recommended from several sources including other companies that they have backed. It was upon meeting the team for the first time and getting to know them that we knew their collaborative approach to work was what we needed from an investment partner. We are confident that with Panoramic’s support we can continue to drive the success of Photonic Solutions and, most importantly, continue to support the Photonics community in the UK and Ireland.

Panoramic’s investment into Photonic Solutions was led by Partner Stephen Campbell, supported by Investment Manager David Atkinson. Panoramic were advised by Paul Mann, Maxine Burton and Craig Pettit of lawyers Squire Patton Boggs and Consilium Chartered Accountants who provided Financial Due Diligence led by David Holt. Management were supported by legal advice provided by Shoosmiths and Corporate Finance advice provided by Johnston Carmichael.