Qioptiq has completed the sale of its UK-based coatings business, Qioptiq Coatings Ltd.
In a management buyout, the team, led by Ian Moyes, has agreed to purchase the business from Qioptiq SAS for an undisclosed amount.
The new company, to be known as Artemis Optical Ltd will continue to provide advanced optical coatings at the facility in Plymouth, UK.
Qioptiq CEO, Benoit Bazire, commenting on the completion said: ‘We are pleased to have reached agreement to sell this company to the former Qioptiq Coatings management team. As a specialised coating company serving the optical industry we are certain that Artemis Optical will continue to satisfy its many customers, including Qioptiq.’