sale of coatings business
Qioptiq, an international designer and manufacturer of optical solutions, has completed the sale of its Plymouth, UK-based coatings business. In a management buyout, the team, led by Ian Moyes, has agreed to purchase the business from Qioptiq SAS for an undisclosed amount.
The new company, to be called Artemis Optical Ltd will continue to provide advanced optical coatings at the Plymouth facility. Qioptiq CEO, Benoit Bazire commenting on the completion said, “We are pleased to have reached agreement to sell this company to the former Qioptiq Coatings management team. As a specialized coatings company serving the optical industry we are certain that Artemis Optical will continue to satisfy their many customers, including Qioptiq.”
Ian Moyes, the new chairman of Artemis Optical said, “The management team is delighted to have this opportunity to guide Artemis Optical in realizing its full potential. The business agility offered by independence will allow us to succeed at new levels, while still satisfying our current customer base.”