Advanced material manufacturing company, Goodfellow, has purchased Potomac Photonics, a firm specialising in microfabrication, in a new strategic deal.
Goodfellow, which is owned by Battery Ventures, says that the deal will allow it to increase its presence in the rapidly expanding medical device sector and microfluidic. At the same time, the firm’s first acquisition gives it greater capability and an immediate manufacturing footprint in the U.S.
Baltimore-based Potomac Photonics, recognised by Goodfellow as an advanced materials platform, supports numerous promising biomedical applications, such as cell therapies and cancer diagnostics, and has a long history of helping clients develop high-quality miniature components.
Commenting on the move, Simon Kenney, Chief Executive Officer of Goodfellow, stated: “This acquisition ticks all the right boxes for us. As a net global exporter, bringing Potomac Photonics into the family allows us to increase our range of products, gives us greater post-processing capabilities and, importantly, delivers a state-of-the-art manufacturing plant in the United States. Having supplied materials for many breakthroughs, with Lawrence Livermore’s nuclear fusion reaction being one prominent example, I’ve always said that our customers go on to do something truly remarkable with the materials they source from us.”
Simon Kenney continued: “We are often the first step of this process. and can now offer a full range of high-end material capabilities. This means we will be better able to support our customers along their journey from research to production.”
For Huntingdon-based Goodfellow, this is another milestone in what has been a strong year. The purchase comes weeks after a significant distribution contract was agreed, as well as the launch of a new brand and website, helping to drive ambitious growth targets.
Goodfellow states that Potomac Photonics are able to leverage a broad range of technologies to micromachine a range of materials, such as polymers, metals, ceramics, and glass with feature sizes on the micron-scale that cannot be seen with the naked eye.
Mike Adelstein, President and Co-Owner of Potomac Photonics, commented: “Having used Goodfellow’s products for more than two decades, I was greatly humbled and honoured by the opportunity to partner with the Goodfellow team. As a business passionate about helping customers solve difficult materials and machining challenges, having access to its global network of clients will enable us to accelerate our reach across key geographies and markets.”
Additionally, Potomac Photonics is able to scale from single prototypes to millions of parts for production, supporting partner needs.
Andrew Watson, Goodfellow’s Chief Financial Officer, concluded: “In addition to the highly complementary strategic fit, we view the United States as a vitally important growth market for our business and are excited to add more critical mass to the regional sales office we already have out there. With Potomac serving as the Group’s US hub, we are excited to continue supporting its advanced machining capabilities, while simultaneously building out our existing range of products in the USA.”
Lead image: Goodfellow
