Global Laser, a UK manufacturer of laser diode modules and customised lasers for specialised applications, has been bought out by its employees. The buyout was supported with funding from the employees and a loan from Finance Wales and the company is now 100 per cent owned by its employees.
Global Laser operates worldwide across a number of industry sectors offering a range of both standard laser components and customised laser solutions. Founded in 2001 by five private investors, three of the original shareholders have now sold their holdings to facilitate the buyout. The remaining two original investors, the chairman, Dr John Watkinson and the managing director, John Miller, together with the finance director, David Beckerley, led the buyout team and will continue in existing capacities with the company.
Watkinson stated: 'The MBO will enable the company to explore additional areas of commercial activity involving the next generation of laser technology while continuing to work on the delivery of ever improving quality to our customers.'
Miller continued: 'We will be looking to improve our partnership arrangements with our customers, distributors and agents, growing together a very strong order book. Our core strategy will remain very much the same, but we recognise that today it is even more essential to be fast-to-market.'