In six years the Livingston based Optocap has grown to employ eighteen people, around 50 companies worldwide, with turnover in excess of £1m. Customers in a 60:40 ratio, overseas to domestic, use Optocap’s services in refining and improving products efficiently and effectively, taking advantage of its subcontract assembly & packaging capabilities using its advanced toolset for optoelectronics and microelectronics devices.
Neil Francis, director of Industries, Innovation & Commercialisation, Scottish Enterprise said: “Scottish Enterprise fulfilled its role of intervening to address an identified market failure. Optocap Ltd is now established with a sustainable future in continuing to service the supply-chain, the time is right to exit.
“The management buy out team has demonstrated its capability through successful performance to date and we believe they are best placed to ensure that Scotland continues to benefit from this intervention.”
David Ruxton, (right) CEO of Optocap Ltd says: “Having completed the work it was set up to do under Scottish Enterprise ownership, the time is now right for Optocap to move on independently and increase the level of business it does with existing and new customers.”
“Whilst one of the key targets for expansion is in overseas markets we recognise the value in continuing to supply our services to customers in our home territory.”