Private equity investment firm H.I.G. Capital has sold Fibercore to Humanetics Innovative Solutions, a supplier of precision test systems and sensors. Terms of the deal were not disclosed.
Established in 1982, Fibercore was formed as a spin-out from the renowned Optical Fibre Group of the University of Southampton. Today, the UK-based company manufactures specialty optical fibres used in a range of applications, including fibre-optic sensors, gyroscopes and rare-earth doped fibres for telecom optical amplifiers. H.I.G. Capital acquired Fibercore from Cisco in 2011.
“Fibercore has always been an industry leader. It has been a very successful transaction and during our period of ownership, we have enjoyed working with Chris Emslie and his team helping to develop the business in new areas; in many cases pushing the boundaries of optical science via pioneering R&D,” said Carl Harring, managing director at H.I.G. Capital.
Fibercore’s new home, as part of a company firmly outside the traditional telecom space, suggests that other markets, such as oil, gas and biomedical, are growing in importance. Harring added: “Today, Fibercore sits at the heart of the industrial Internet of Things revolution with applications ranging from driverless cars to remote operating robots relying on the company's leading edge technology. Humanetics is a natural home for the business and we wish the combination every success.”
Chris Emslie, CEO of Fibercore stated: “I would like to thank H.I.G. for their assistance in the development of Fibercore since 2011 and their support of the management team. This is an exciting moment in the Fibercore story and in combining our strengths with Humanetics and its leadership in sensor technologies, I believe we have found the perfect partner.”
Humanetics describes itself as “the world’s leading supplier in the design and manufacture of sophisticated crash test dummies, associated finite element software simulation models and advanced safety test and calibration equipment”. To this end, Humanetics develops and supplies custom force, load, torque and pressure sensors and advanced strain gauging services. It is a portfolio company of Golden Gate Capital.
