Cathay et al. sell Amplitude Laser to L-GAM

Under Cathay, Mérieux, BPI France and Auriga's ownership, Amplitude expanded abroad through the opening of subsidiaries in Japan, Korea, and more recently in China, as well as in the US with the acquisition of Continuum Lasers in 2014.

During this period, Amplitude also diversified its end markets by pioneering the use of ultra-fast lasers in high-growth industries such as semiconductors and advanced micro-machining. The company increased its revenues to €70m in 2019.

Cathay invested in Amplitude alongside CDC Entreprises, Merieux Developpement and Auriga Partners in a €30m buyout in February 2012. They acquired the company from CM-CIC Capital Privé and Aquitaine Création Investment (ACI). Cathay invested via the €200m Cathay Capital II fund, while Auriga drew equity from the €155m Auriga Ventures III vehicle. CDC invested via the FCID vehicle, a €180m co-investment fund.

Previous funding
CM-CIC Capital Privé invested €2.8m, alongside €200,000 from regional investor Aquitaine Création Investissement, in a first round of financing for Amplitude in 2007.

Company
Founded in 2001 and headquartered in Pessac, Amplitude is a manufacturer of ultra-fast lasers for scientific, medical and industrial applications, including cellular imaging and nano-surgery. The company employs 350 staff across three continents and serves a range of scientific, medical and industrial clients in 40 countries worldwide. Amplitude currently employs 350 staff and generated revenues of €70m in 2018.

People
Amplitude Laser – Eric Mottay (CEO).
Cathay Capital – Fabien Wesse (partner).
L-GAM – Yves Alexandre, Jerome Bertrand (partners).

Advisers
Equity – Will Consulting (M&A); PwC (corporate finance); Ayache Salama (legal); PwC Avocats (legal); Mayer Brown (tax).
Company – KPMG (corporate finance); Roland Berger (corporate finance).
Vendors – DLA Piper (legal); Canaccord Genuity (M&A).

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