TRUMPF and UK-based fiber laser maker SPI Lasers have announced that TRUMPF intends to make an offer to buy the entire share capital of SPI Lasers for ~$48.9 million in cash.
The combination of SPI Lasers' products, world-class fiber laser technology, engineering and manufacturing along with TRUMPF's complementary technology, operational excellence and resources will enable TRUMPF to establish a leading position in the rapidly growing fiber laser sector. And with the addition of a strong fiber laser product line, TRUMPF will offer a full range of laser solutions for customer needs.
TRUMPF expects that SPI Lasers will be a center of fiber laser excellence within the TRUMPF group. SPI Lasers will operate as a merchant laser business unit within the Laser Technology and Electronics Division of TRUMPF and will continue to produce its growing portfolio of OEM and stand alone fiber laser solutions. The business will operate from the existing facilities in Southampton, UK.
"I firmly believe that both SPI Lasers and TRUMPF will benefit from this proposed transaction. While the overall market for industrial lasers is expected to grow further in the future, particular growth is expected in the lower power range, an area in which SPI Lasers' products have already established a strong market presence. A broad product portfolio of SPI Lasers in the fiber laser segment would complement TRUMPF's existing product and technology platforms and create a stronger combined industrial laser offering," said Peter Leibinger, vice-chairman of the Managing Board and Head of the Laser Technology and Electronics Division, said:
Dr David Parker, CEO of SPI Lasers, added "We are delighted by this announcement. Whilst we are proud of our achievements to date there is no doubt that with the support of the TRUMPF organisation we can take the business to a higher level and be a major player in this exciting sector. We see many opportunities to leverage our world class technology position into new products and markets and look forward to working within the TRUMPF group to achieve this".
SPI Lasers is a leading designer and manufacturer of optical fiber-based lasers that are currently used in a wide range of industries. The current product family is used to mark, weld, and cut materials used in the manufacture of a range of products.
The platform technology being developed to raise laser power levels for use in the macro manufacturing sectors is expected further to widen the markets served by SPI Lasers to include aerospace, automotive and white goods manufacture.