3S Photonics raises more than $18 million dollars
July 10, 2009--Purchased from Avanex in 2007 (see "3S Photonics and Avanex reach settlement"), optoelectronic components manufacturer 3S Photonics (Nozay, France; formerly Alcatel Optronics), raised funds from France's Strategic Investment Fund--Fonds Stratégique d'Investissement (FSI), Alto Invest, and Midi Capital. After regaining its financial stability and leadership in the submarine telecommunications components market, the company says it will diversify into such new areas as industrial lasers, defense, and the medical industry (see also "3S Photonics enters FTTH market" and "Seed laser module designed for fiber-laser applications").
FSI, Alto Invest, and Midi Capital's accumulated contribution will enable the company to speed up market diversification with the acquisition of shareholdings or the purchase of other companies. This is a testimony to the appropriateness of its strategy and the investors' confidence in the company's potential.
"In 3S PHOTONICS we found an expanding industrial project based on solid know-how and state-of-the-art technologies that we wanted to establish as part of the industrial heritage of France and increase its value even more. The aim is to support the strategy of external growth into new markets for the company, a strategy that we considered coherent and promising", said Gilles Michel, COO of FSI.
"We are very happy to welcome new shareholders to our company. This involvement in our work is validation for our strategy, emphasising and rewarding the high technological potential of our teams and their untiring investment. Since buying the company in 2007 we have managed to fulfil all the commitments and deadlines we set for ourselves. We have achieved all our growth on the basis of our own funds. Nowadays, in the light of the international context and although we are still unaffected by the crisis, our partners' capital contribution is extremely opportune and will act as an accelerant to growth," explains Alexandre Krivine, chairman and CEO of 3S Photonics.
Located in the heart of Optics Valley in Essonne, 3S Photonics employs almost 160 employees between its factory in Nozay and its sales departments in Marcoussis and London. It also uses subcontractors in Asia, supervised by its regional office in Thailand.
Deeply in debt in 2007, 3S Photonics recovered its financial stability in just two years on the basis of its portfolio of existing products, hiring 50 more employees and opening up to new segments of the telecommunications market such as pump modules for terrestrial applications or FTTH (fiber-to-the-home).
For more information, go to www.3Sphotonics.com.
--Posted by Gail Overton, [email protected]; www.laserfocusworld.com.