HIG Capital, a global private equity investment firm with over €20 billion of equity capital under management, has announced that it has sold UK-based fibre-maker Fibercore to Humanetics Innovative Solutions,a portfolio company of Golden Gate Capital. Terms of the transaction were not disclosed.
Fibercore, based in Southampton, UK, is a developer of specialty optical fiber and offers what it calls “the industry’s most comprehensive suite of speciality fibre products” serving multiple high-growth end-markets, including use in aerospace & defence, oil & gas, and biomedical applications.
Since its founding more than thirty years ago, Fibercore has been recognized as a key player in the speciality optical fibre sector with a reputation for quality, innovation and technical support. It works with some of the world’s largest companies assisting in the development of new optical fiber technologies.
Carl Harring, Managing Director at HIG Capital, commented: “Fibercore has been a successful transaction and, during our period of ownership, we have enjoyed working with Chris Emslie and his team helping to develop the business in new areas; in many cases pushing the boundaries of optical science via pioneering research and development.
“Today, Fibercore sits at the heart of the industrial Internet of Things revolution with applications ranging from driverless cars to remote operating robots relying on the company’s leading edge technology. Humanetics is a natural home for the business and we wish the combination every success.”
Chris Emslie, CEO of Fibercore stated: “I would like to thank HIG for its assistance in the development of Fibercore since 2011 and their support of the management team. This is an exciting moment in the Fibercore story and in combining our strengths with Humanetics and its leadership in sensor technologies, I believe we have found the perfect partner.”
Established in 1982, Fibercore was formed as a business venture spin-out from the world-renowned Optical Fiber Group of the University of Southampton to offer the specialty optical fibres developed at the University, commercially. Today, the UK-based company manufactures the most comprehensive suite of speciality optical fibres, including single-mode, photosensitive, multicore, polarization maintaining, spun, doped, and multimode fibers; passive cladding pumped fiber and components, fiber bragg grating, and complementary products.
For additional information on Fibercore, see www.fibercore.com