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Financial services Inrad Optics, Inc. (OTCMKTS:INRD) (“Inrad Optics” or the “Company”), a provider of advanced optical components, assemblies and systems, today announced that it has entered into a definitive merger agreement to be acquired by Luxium Solutions (“Luxium”), an affiliate of private equity firms SK Capital Partners (“SK Capital”) and Edgewater Capital Partners (“Edgewater”), in an all-cash transaction that values Inrad Optics at approximately $19 million, including assumed debt.
Key Points:
- Inrad Optics, Inc. (OTCMKTS:INRD) (“Inrad Optics” or the “Company”), a provider of advanced optical components, assemblies and systems, today announced that it has entered into a definitive merger agreement to be acquired by Luxium Solutions (“Luxium”), an affiliate of private equity firms SK Capital Partners (“SK Capital”) and Edgewater Capital Partners (“Edgewater”), in an all-cash transaction that values Inrad Optics at approximately $19 million, including assumed debt.
- Following the close of the transaction, Inrad Optics will remain a U.S.-controlled and operated company.
- Following the closing of the transaction, Inrad Optics expects to benefit from the significant resources, operational expertise and capacity for investment provided by Luxium, SK Capital and Edgewater.
- “This transaction delivers immediate and certain value to our stockholders,” said Jan Winston, Chair of Inrad Optics’ Board of Directors.
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Partnership Luxium Solutions, LLC (“Luxium” or the “Company”), a worldwide technology leader and provider of high-performance crystals used in photonics and radiation detection applications, has entered into an agreement to acquire PLX Inc. and PLX UK, Ltd, (collectively, “PLX”) from an investor group led by Tinicum.
Key Points:
- Luxium Solutions, LLC (“Luxium” or the “Company”), a worldwide technology leader and provider of high-performance crystals used in photonics and radiation detection applications, has entered into an agreement to acquire PLX Inc. and PLX UK, Ltd, (collectively, “PLX”) from an investor group led by Tinicum.
- “Both Luxium and PLX bring complementary technical expertise in applied material sciences to enable the applications of our customers.
- Luxium and PLX share a strong alignment in their go-to-market strategies emphasizing collaboration with customers to develop customized solutions.
- Furthermore, it’s clear that both companies share common values grounded in scientific excellence, quality, and customer satisfaction,” said Itai Vishnia, CEO of PLX, who will continue to lead the PLX group within the Luxium portfolio.
