M.u.t. Acquires Majority Stake in Avantes
Earlier this year, publicly held m.u.t, AG (see IBO 12/31/07) acquired a 51% stake in tec5 AG (see IBO 4/15/08), another optical spectroscopy company. There are many small vendors of optical spectroscopy systems and related sensors and components for the OEM and commercial market, making the sector optimal for consolidation.
Wedel Germany 9/4/08; Eerbeek, The Netherlands 9/4/08—M.u.t. AG, a publicly held provider of lab automation, spectroscopy, aviation and fire detection systems, has acquired 51% of Avantes Holding BV, effective January 1, but just announced this month. Based in the Netherlands with 40 employees, Avantes provides fiber optic spectrometers and accessories for online analysis and is projected to have 2008 sales of €5.0 million ($6.8 million), according to m.u.t. According to Avantes, in the first half of 2008, m.u.t. recorded sales of nearly €11 million ($16.4 million) and an operating profit of €857,000 ($1.3 million). Avantes stated that its distribution arrangements will remain the same and that it will keep the Avantes name.
