The corporate team from independent UK law firm Burges Salmon has advised photonics technology business Gooch & Housego PLC (G&H) on the acquisition of StingRay Optics.
Founded in 2004, StingRay Optics is a premier designer, manufacturer and supplier of world-class infrared optical assemblies, and this acquisition enhances G&H’s strategic objective of diversification into the aerospace and defence sector.
Leading the transaction advising US-based StingRay Optics was Ohio headquartered law firm Thompson Hine LLP, one of Burges Salmon’s international preferred firms. When Burges Salmon’s clients require advice in other jurisdictions, it works closely with like-minded leading independent firms around the world. This is its Preferred Firm Network – a non-exclusive network of law firms that Burges Salmon has assembled over many years.
The Burges Salmon team, led by corporate partner Richard Spink, provided the UK legal advice on various corporate aspects of the international transaction.
Richard Spink said:
"This latest acquisition by Gooch & Housego PLC is very much in line with its strategic objectives, both in terms of position in the value chain and also diversification into the aerospace and defence sector. We are very pleased to have worked with Gooch & Housego PLC on a number of UK and US acquisitions over the years, working closely with the client and the team from Thompson Hine as the acquisition opportunities have increasingly arisen in the US."
Andrew Boteler, Chief Financial Controller of Gooch & Housego said:
"The StingRay deal, once again, highlighted the benefits of having strongly aligned UK & US counsel. The depth of the relationship that Burges Salmon and Thompson Hine have developed over two decades of working together produced a seamless join between the deal legals on the one hand and the regulatory, structural and funding legals on the other."
This latest transaction follows the announcement in July 2016 of Burges Salmon advising G&H on the acquisition of UK based specialist supplier of periscopes, vehicle sights and related equipment for land based armoured fighting vehicles, Kent Periscopes Ltd. The firm has also previously advised G&H on numerous acquisitions, including Spanoptic Ltd and Constelex Technology Enablers Ltd in the UK, and supported it in acquiring businesses in the US.