Scottish management buy-out success

In six years the company has grown to employ eighteen people and deals with around 50 companies worldwide with annual turnover exceeding £1 million. Its customers, 40 per cent of whom are based in Scotland, use Optocap’s services to develop new and better products more efficiently and effectively, whilst also taking advantage of its subcontract assembly and packaging capability using its advanced toolset for optoelectronics and microelectronics devices.

Neil Francis, Director of Industries, Innovation & Commercialisation at Scottish Enterprise said: “Since inception, Optocap Ltd has assisted with 15 collaborations and 10 new products, processes and services as well as enhancing the infrastructure and capability of one of Scotland’s key industries.

“Scottish Enterprise has fulfilled its role of intervening to address an identified market failure, but as 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, CEO of Optocap Ltd added: “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.

“With the help and support of Scottish Enterprise, Optocap has built an excellent platform on which we can grow a successful, indigenous company continuing to provide key services to the optoelectronics and microelectronics industries.”

Optocap Ltd will join Scottish Enterprise’s account management portfolio, providing the opportunity for SE to remain supportive of the company.