Headquartered in High Wycombe, UK, RaySpec (previously known as SGX Sensortech) is a leading supplier of high specification silicon-based energy dispersive X-ray detectors and electronic pulse processing systems. The company designs, manufactures and sells detectors and systems for research equipment in the X-ray analytical market, serving an international customer base.
The transaction provides Polatechno and its Utah-based subsidiary Moxtek with access to RaySpec’s suite of innovative products and will allow for close collaboration between the two businesses on new X-ray technologies in the future.
Dennis Hall, Partner & Co-Head Global Portfolio Operations for Baird Capital, commented: “We are very pleased to have supported RaySpec’s development and believe that Polatechno and its subsidiary Moxtek (with whom RaySpec have an existing close trading relationship) provide an excellent platform to further expand their mutual businesses.” He continued, “The Livingstone team brought excellent insight and support in managing a complex international process which also included the inevitable sensitivities around RaySpec’s existing business relationships.”
Peter Smith, Managing Director at RaySpec added: “Livingstone showed great dedication and support throughout this important process and their technical and sector experience really helped us achieve a great result for all the shareholders.”
The completion of this transaction further reinforces Livingstone’s position as advisers of choice to business owners seeking a strategic acquirer in the advanced sensors and instrumentation space, following on from the recent sale of Morgan Advanced Materials’ piezo sensors business to CeramTec and the sale of Nu Instruments to US-based AMETEK, Inc.