BOSTON, July 7, 2021 – On July 6th, 2021, Omega Optical (Omega or the Platform), Artemis Capital Partners’ (Artemis or the Firm) precision optics platform, announced that it had completed the acquisition of Spectral Systems, LLC (Spectral or the Company).
For almost 4 decades, Spectral has been a leading designer and manufacturer of mission-critical infrared optical coatings, components, and assemblies serving blue-chip Original Equipment Manufacturers (OEMs) in the life science, analytical instrumentation, aerospace, and defense markets.
Artemis has been an active investor in optics and optically enabled technologies for the last decade. The optics industry has stepped up to meet some of the most pressing human demand drivers like the need for increased safety & security, sustainability, and productivity. In a highly fragmented market, Artemis believes there is an opportunity to build a unique coatings-centric Optics Platform that could accelerate the Industrial Technology market’s ability to meet these critical human demand trends.
After acquiring Omega Optical in the second half of 2020, Artemis’ advanced optics specialists, Euan Milne and Taylor Murphy, began working together with Omega CEO, Dr. Michael Cumbo and Omega Board Member, John Ippolito, to implement the Firm’s differentiated optics thesis with the intention of building a platform uniquely positioned to meet and exceed the demands of its aerospace, defense, industrial automation, life science, and commercial customers.
From Infrared Windows and Liquid Cells to Infrared Optical Components and Coatings, Spectral’s clear specialty and dominance in the Infrared Range (the part of the light spectrum where wavelengths are significantly longer than ultraviolet or visible light, but shorter than microwave, radar, and broadcast bands) of the Optical Spectrum is of immense technical and strategic value to the Platform. As their optical capabilities and offerings strengthen and expand, Omega and Spectral together will be able to bring a greater level of commitment and satisfaction to their mission-critical customer applications.
Dr. Cumbo highlighted the added strategic value to Omega stemming from the acquisition of Spectral in saying, “Spectral is recognized as a leading optical supplier for mission-critical infrared applications such as FTIR spectroscopy and intelligence, surveillance, & reconnaissance (ISR) imaging. The Spectral business enhances our coatings-centric expertise and expands the suite of proprietary products, materials, and services we offer to our customers. This acquisition is highly consistent with our strategy and vision for Omega, increasing our scale, proprietary capabilities, engineering talent, and, ultimately, our ability to meet the growing global demand for high-precision, no-fail optical coatings, components, and assemblies. We look forward to welcoming the Spectral team to the Omega family and working together to expand our offerings and accelerate profitable growth.”
Be sure to follow Spectral, Omega, and Artemis to stay up to date on the bright future of this revolutionary optical platform. From innovative new technologies and continued strategic M&A activities to talent and customer acquisitions, Artemis’ Optics Team could not be more optimistic about this opportunity to contribute to improved global safety & security, environmental sustainability & accountability, and industrial productivity.
Founded in 2010, Artemis is a Boston-based private equity firm focused on acquiring and growing manufacturers of differentiated industrial technologies, including analytical and lab instrumentation. Artemis seeks to partner with companies that have strong established management teams, outstanding engineering capabilities, unique products, and expanding niche markets. For more information on Artemis, please visit: www.artemislp.com
Vice President, Business Development