News Article
Agreement will unite optical and laser technology companies
CVI is pleased to announce that an agreement has been signed with Barloworld Scientific to acquire Melles Griot.
CVI is pleased to announce that an agreement has been signed with Barloworld Scientific to acquire Melles Griot. The terms of the transaction have not been disclosed, but it is expected to close in the next few weeks.The acquisition brings together two companies in optical and laser technology. With worldwide manufacturing and distribution in Asia, Europe, and North America, the new company will be well positioned to take a significant market position supplying optical components, lasers, and opto-mechanical assemblies.Stuart Schoenmann, CEO of CVI, states, "We are extremely excited about the opportunities this acquisition creates for our customers and employees. The Melles Griot acquisition is a significant component of CVI's plan to expand our capabilities and manufacturing capacity to meet worldwide demand."CVI's overall acquisition strategy is to expand product lines, to increase manufacturing capabilities, and to address growing market opportunities. The Melles Griot acquisition will enable CVI to meet customer demand for high volume laser and optics production along with complex optics and assemblies.""Melles Griot is eager to become a strategic part of CVI," says Blake Fennell, CEO of Melles Griot. "CVI has a strong world-wide brand, manufacturing, distribution network and access to capital. This is a great opportunity for the Melles Griot team to focus on photonic technologies within a company dedicated to the industry."