Apax Partners Funds recently acquired IPG Photonics Corp., a global manufacturer of high-power fiber optic amplifiers and lasers, for $15 million. Terms of the transaction were not disclosed.
IPG Photonics is based in the U.S. with operations in Burbach, Germany; Milan and an affiliate in Moscow. Its main product groups include: high-power amplifiers for telecommunications; high-power fiber lasers for marking, the printing industry, material processing, free space communications, laboratory and medical applications and test instruments. IPG supplies optical components and sub-systems to telecom providers such as Siemens, Alcatel, Marconi, Terabeam and ADC. The company’s annual revenue was not disclosed.
In a prepared statement, Michael Risman, a director at Apax Partners, said, “IPG’s unique high-power laser and EDFA amplifier products are being used by the company’s customers to create new services such as free space optical communication, as well as enabling step change improvements in bandwidth in metro and long haul transmission. This is a remarkable entrepreneurial company and we look forward to supporting it in its next phase of growth and expansion in Europe.”