Private equity firm Maven Capital Partners has invested £2.6m in PowerPhotonic, a provider of precision optics for high-power laser systems.
The funding, which follows £2.7m investment by Archangels and Scottish Enterprise over the last 24 months, includes investment from the Maven Income and Growth VCTs and IFS Maven Equity Finance – part of the Investment Fund for Scotland managed by Maven and delivered by the British Business Bank – will enable PowerPhotonic to scale operations across its UK and US facilities.
On 1st July PowerPhotonic appointed Amanda Robertson as group CEO, with co-founder Roy McBride moving into the role of director of strategy and growth.
“Joining PowerPhotonic at this exciting juncture is a real privilege. The momentum created by this investment opens the door to cutting-edge innovation and deeper collaboration,” said Robertson.
“I’m looking forward to building on the company’s strong foundation and working with our exceptional team to shape the next chapter of our growth.”
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Headquartered in Dalgety Bay, Scotland, with a high-volume manufacturing facility in Arizona, USA, PowerPhotonic is a global leader in precision micro-optics for laser applications.
The company designs and manufactures complex freeform optics that are essential to enhancing the performance and reliability of laser systems used in demanding sectors such as aerospace, defence, medical devices and semiconductor manufacturing.
The business is strategically positioned within high-growth sectors where lasers are being increasingly adopted to drive innovation and operational efficiency.
David Milroy, Partner at Maven, said: “PowerPhotonic’s commercially proven technology, strong IP portfolio and experienced team underpin a highly scalable business with significant global potential. The company operates in sectors where demand for precision optics is accelerating, and its ability to deliver complex, high-performance components sets it apart.
“We are excited to support PowerPhotonic’s next phase of growth and believe the business will significantly benefit from the value-add of a strategic investor with significant experience in growing businesses globally.”