CrestOptics, a manufacturer of microscopy solutions and advanced systems for fluorescence microscopy and diagnostic applications, has been acquired through a majority shareholding by Apposite Capital LLP, the healthcare specialist private equity investor.
The investment will support CrestOptics’ international commercial expansion and boost product development and innovation, establishing the company as an attractive commercial partner and employer in the life science industry.
CrestOptics represents the fourth investment of Apposite’s new fund, Apposite Healthcare III. Apposite forms a close partnership with its companies to provide them with the strategic, financial, and human resources required to accelerate growth through expansion into new product lines and geographies, both organically and through synergistic acquisitions.
As part of the agreement, Dr David Martyr will join the CrestOptics’ board of directors as chair. Previously group president of Leica Microsystems, and CEO of Tecan, Dr Martyr brings extensive industry experience. He will be focussed on supporting the rapid expansion of the Company.
CrestOptics manufactures high-end microscopy instruments under its own brand and as an original equipment manufacturer (OEM). The Company’s instrumentation can be integrated with other high-end imaging systems used in life science research to enhance detection and imaging performance.
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Renato Giacobbo Scavo, CEO of CrestOptics, said: “This agreement demonstrates that CrestOptics is an established brand and a strong player in the worldwide microscopy market. Strategic collaborations with external partners such as Apposite Capital LLP will help us further enforce our market positioning and strengthen our product portfolio with other innovative technologies. Apposite and CrestOptics share the same vision for the future and see huge potential for growth.”
David Porter, founding partner of Apposite Capital, added: “CrestOptics, a leader in the development and manufacture of advanced imaging systems for life science research, is exactly the type of differentiated company Apposite seeks to invest in and we are excited to support rapid growth by accelerating further innovation and product development, and facilitate geographical expansion into new markets by leveraging our industry knowledge and contacts. This partnership will cement CrestOptics’ position as a pioneering and reliable imaging innovator and provider on a global scale.”
The agreement is supported by existing shareholder, Xyence, an Italian life sciences investor and partner of CrestOptics since 2018, which supports the early-stage diagnostics research programmes the Company is conducting with Istituto Italiano di Tecnologia (IIT). These research programmes in the fields of cancer, Alzheimer’s disease and point of care virus detection will be carried on by the spin off D-TAILS, led by Vincenzo Ricco, founder of CrestOptics, who will also continue to bring value to the Company in a non-executive capacity.
