Halma Buys Fiberguide

Sensor, safety and technology group Halma announced Tuesday it has acquired Fiberguide Industries Inc. for an initial payment of $14.5 million in cash.

Fiberguide, located in Stirling, N.J., makes complex optical fiber cables and assemblies, predominantly custom designed for OEMs in diverse end markets where high performance light delivery or measurement is required. Approximately half of their revenues (about $10.7 million in 2007) come from medical/biomedical, spectroscopic and analytical instrument applications. Fiberguide will join Halma's Photonics business within its Health and Analysis sector, the company said.

"Fiberguide deepens our presence within the growing photonics market and strengthens our existing fiber optic assembly activities. There are excellent opportunities for Fiberguide to develop strongly within Halma -- particularly through technical collaboration and growth in international markets which currently represent less than 5 percent of Fiberguide's revenues," said Andrew Williams, Halma's chief executive.

Other companies in Halma's Boonton, N.J.-based Health Optics and Photonics group include Ocean Optics of Dunedin, Fla., a manufacturer of miniature fiber optic spectrometers; and Labsphere of North Sutton, N.H., a maker of light testing and measurement products and specialized optical coatings.

Halma said the acquisition was funded from its existing cash and debt facilities. If Fiberguide meets certain performance targets between Oct. 3, 2009, and Oct. 2, 2010, Halma could pay up as much as $10 million more for the acquisition.

For more information, visit: www.halma.com