Luxium Solutions, LLC Completes Acquisition of Inrad Optics
July 02 2024 - 8:00AM
Business Wire
Acquisition Strengthens Luxium’s Leadership in Optics &
Photonics Solutions
Luxium Solutions, LLC (“Luxium” or the “Company”), a worldwide
technology leader and provider of high-performance crystals used in
photonics and radiation detection applications, has completed the
successful acquisition of Inrad Optics, Inc. (“Inrad Optics”)
today. This strategic acquisition strengthens Luxium’s portfolio of
innovative products and provides significant resources, operational
expertise, and capacity investment for Inrad Optics.
“I would like to thank our customers, shareholders, and other
stakeholders for their continued support over the past 51 years,”
said Amy Eskilson, President and CEO of Inrad Optics. “I would also
like to extend my heartfelt thanks to our Board of Directors for
their support and guidance throughout the acquisition process. We
are well positioned for future success.”
“We are excited to collaborate with Inrad Optics' seasoned team
of technical and industry experts. We believe this acquisition will
significantly enhance the range and value of solutions we can
provide to our customers,” said Michael Cahill, CEO of Luxium
Solutions. “Both Luxium and Inrad Optics contribute complementary
technical expertise in applied material sciences and optics,
empowering our customers' applications. This partnership marks a
significant step in expanding our capabilities, resources, and the
added value we can offer to our customers globally.”
Luxium, Inrad Optics, and PLX Inc. (acquired by Luxium in
May 2024) anticipate leveraging the combined strengths and
resources of all three organizations to deliver enhanced value to
their customers, stakeholders, and employees. This move underscores
Luxium's commitment to growth and innovation within the optics and
photonics industry.
Advisors
CriticalPoint Partners, LLC is serving as financial advisor to
Luxium Solutions, LLC and Latham & Watkins LLP is serving as
legal counsel to Luxium Solutions, LLC. For more information about
CriticalPoint Partners, LLC, please visit
www.criticalpointpartners.com. For more information about Latham
& Watkins LLP, please visit www.lw.com.
Needham & Company, LLC is serving as financial advisor to
Inrad Optics and Lowenstein Sandler LLP is serving as legal counsel
to Inrad Optics. For more information about Needham & Company,
LLC, please visit www.needhamco.com. For more information about
Lowenstein Sandler LLP, please visit www.lowenstein.com.
About Luxium Solutions
Headquartered in Hiram, Ohio, Luxium is recognized as a
worldwide technology leader and provider of single crystal
scintillation materials for radiation detection applications, as
well as sapphire and garnet substrates for photonics and power
electronics. The Company differentiates itself with capabilities
and know-how in crystal growth, packaging and integration, and
unique intellectual property supported by a portfolio of greater
than 170 patents. With 400+ employees across production facilities
in the US, France, and India, and sales offices in China and Japan,
Luxium serves a global base of 650+ customers across a diverse set
of applications across medical imaging, security and border
protection, semiconductor, aerospace and defense, oil and gas and
other industrial markets. For more information, please visit
www.luxiumsolutions.com.
About SK Capital Partners
SK Capital is a private investment firm with a disciplined focus
on the specialty materials, ingredients, and life sciences sectors.
The Firm seeks to build resilient, sustainable, and growing
businesses that create substantial long-term economic value. SK
Capital aims to utilize its industry, operating, and investment
experience to identify opportunities to transform businesses into
higher performing organizations with improved strategic
positioning, growth, and profitability, as well as lower operating
risk. SK Capital’s portfolio of businesses generates revenues of
approximately $14 billion annually, employs more than 25,000 people
globally, and operates more than 200 plants in over 30 countries.
The Firm currently has approximately $9 billion in assets under
management. For more information, please visit
www.skcapitalpartners.com.
About Edgewater Capital Partners
Headquartered in Cleveland, Ohio, Edgewater Capital Partners is
a sector-focused private equity firm investing in lower
middle-market performance materials and services businesses. The
firm has extensive experience in investing in the people,
technology, and facilities to accelerate the growth trajectory of
specialty industrials, life sciences, advanced materials, and
specialty chemicals businesses. Over twenty-five years of industry
specific investing has allowed the firm to develop a deep
understanding of the complexities and nuances common to these
businesses. For more information, please visit at
www.edgewatercapital.com.
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Luxium Solutions Vice President, Marketing Keith Lewis
234-267-9065 Klewis@luxiumsolutions.com