Specac International Limited announces that today, members of its executive team have partnered with Venture Capital Trust company, The Foresight Group to purchase the company from Smiths Group plc, owners of Specac since 1997.
Specac Managing Director, David Smith says:
“Specac’s growth in recent years has been achieved through its focus on high quality, high specification accessories for the infrared and XRF spectroscopy markets. We have made it a key part of our commercial strategy to innovate, which has resulted in new products such as the Quest ATR, the leading accessory of its type in the market.
In recent years, we have also focused much of our effort on meeting the needs of customers in the emerging markets of the world, such as China, India and Singapore.
We have a strong team of dedicated and experienced commercial, design, operational and administrative staff, and I believe today’s announcement is the beginning of a new, exciting chapter in the rich history of Specac. We can now be bolder in our decision making, quicker to market, and better able to meet the service expectations of our customers.
Foresight group has also introduced Kevin O’Donovan to our business as Non- Executive Chairman. Kevin has a strong sales and marketing background within the scientific instrumentation arena which will complement our existing management team and enable us to further develop within this niche market.”
Tom Thorp, Director of Foresight, says:
“Specac is precisely the type of company that Foresight likes to support. Its strong product offering and wide geographical reach makes it an attractive investment opportunity for Foresight’s VCTs. David’s involvement combined with the expertise from Kevin, gives us confidence that we will see the business go from strength to strength.”
Kevin O’Donovan, Non-Executive Chairman, Specac International Limited, says:
“I am pleased to be associated with this exciting business and look forward to working with the Management Team and Foresight in order to achieve our business objectives.”
Specac is one of the world's leading suppliers of spectroscopic accessories to the forensic, life science, pharma, research and quality control application industries. The companies product range includes the Quest ATR, the leading ATR on the market as well as a range of sample analysis solutions for liquids, gases and solids that will operate at a wide range of temperatures and pressures.
Specac also provides high quality solutions for sample preparation including a range of hydraulic presses and an extensive range of consumables and spares including transmission windows and pellet dies. Headquartered in Kent, England, and 16 miles (26km) from the centre of London, Specac operates in over 70 countries around the world through its extensive distribution network. wore information can be found at www.specac.com
About The Foresight Group
Foresight Group is a leading independant infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail customers for more than 30 years. Foresight has £1.3 billion of assets under management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs). www.foresightgroup.eu