Baird Capital exits RaySpec

The sale ends a six-year holding period for Baird, which acquired the company for £15m at the start of 2012.

The transaction provides Polatechno with access to RaySpec's products and will allow for close collaboration between the two businesses on new x-ray technologies in the future.

Previous funding
Baird acquired RaySpec (then SGX Sensortech) from its corporate parent e2v in May 2012. The company reported an operating profit of £900,000 from revenues of £14.8m at the time of the carve-out.

Company
Headquartered in High Wycombe, UK, RaySpec is a supplier of silicon-based energy-dispersive x-ray detectors and electronic pulse processing systems. The company designs, manufactures and sells detectors and systems for research equipment in the x-ray analytical market, serving an international customer base. 

RaySpec recorded a £14m turnover in 2016, with a gross margin of £4.7m and £1.8m in operational cashflow.

People
Baird Capital – Dennis Hall (partner).
RaySpec – Peter Smith (managing director).

Advisers
Equity – Livingstone, Graham Carberry (M&A).

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