Cripps advises on £22M sale of Integrated Technologies Ltd
Cripps has advised the shareholders of Kent-based Integrated Technologies Ltd on their sale to Gooch & Housego PLC, a specialist manufacturer of optical components and systems, in a deal worth up to £22 million.
Based in Ashford, Kent, with operations in the USA and China, ITL is a specialist in the design, development and manufacture of medical, diagnostic, analytical and laboratory instruments.
Gooch & Housego, based in Ilminster, Somerset, specialises in the research, design, engineering and manufacture of advanced photonic systems, components and instrumentation for applications in the aerospace and defence, industrial, life sciences and scientific research sectors. It has operations in the USA and Europe.
The acquisition of ITL will allow G&H to expand its presence in the life sciences sector and further enable its move into system-based products.
Tom Cole, Managing Director at ITL commented: “We were extremely impressed with Cripps. Salim, John and the team worked closely with us and provided the commercial and pragmatic advice we needed. They worked extremely hard to ensure deadlines were met and the deal completed successfully.”
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