Advanced materials company Materion recently announced that it has entered into a definitive agreement to acquire Optics Balzers, maker of thin-film optical coatings.
Officials at Materion (Mayfield Heights, Ohio) said June 8 that they expect the $160 million all-cash transaction to close in the third quarter of 2020, subject to regulatory clearance. They described the 74-year-old Optics Balzers as a pioneer in thin-film optical coatings, with annual revenue of $67 million.
Optics Balzers has two R&D and manufacturing locations in Liechtenstein and Germany — and recently launched a plant in Malaysia.
The acquisition further expands Materion’s outside North America. Materion and Optics Balzers have complementary technologies across the electromagnetic spectrum, so the merger boosts the capabilities of the combined thin film optical coatings portfolio and positions Materion to take advantage of key megatrends in life science, consumer, and industrial markets.
“We have long held a deep amount of respect and appreciation for the Optics Balzers business. Their technical capabilities, product portfolio, end market, and geographic mix, combined with their talented leadership team, make them the ideal partner to accelerate our global growth. The combination creates a global industry leader in optical thin film coating solutions,” Materion CEO Jugal Vijayvargiya said in a news release.