Techcomp Expands in Europe
Scotland’s The Herald reported that EI 2012 revenues grew 32% to £8.2 million ($13.0 million) and pre-tax profits increased 38%. Techcomp purchased EI shares from founder Des Smith, Hamamatsu Photonics and Scottish Enterprise, among others, according to The Herald. Techcomp Europe, the European business of Hong Kong–based instrument distributor and manufacturer Techcomp, consists of French freezer supplier Froilabo, Swiss balance firm Precisa and UK-based Dynamica.
2/21/13 Hong Kong; 2/27/13 Hong Kong; 2/25/13 Livingston, UK—Techcomp Europe has acquired Edinburgh Instruments (EI) for approximately $5.0 million. EI supplies lifetime fluorescence spectrometers, lasers and gas sensors to research and industrial markets. The 65-person company’s net profits after taxes for fiscal 2012 ending March 31, 2012 totaled £438,000 ($695,238 = £0.63 = $1). “We are delighted to have the opportunity of adding Edinburgh Instruments to our portfolio of businesses and to be able to expand our range of technologies and products,” stated Techcomp Europe Group CEO Chris O’Connor. “The depth of knowledge and experience within the team at EI is truly impressive and we are proud that Professor Smith, OBE, FRS, FRSE, EI’s founder and retired chairman, who is a genuine pioneer of advanced photonic research, will be joining Techcomp Group as our chief scientific officer.” Techcomp also stated that the purchase will expand its European presence and its instrument development and manufacturing capabilities. EI CEO Alan Faichney will leave the company.
