Laser Photonics Completes Acquisition of Control Micro Systems - Expands Into Pharmaceutical Laser Equipment Market
November 06 2024 - 6:00AM
Business Wire
CMS develops specialized laser systems critical
for slow-release tablets and counterfeit proof pill manufacturing
in the pharmaceutical industry
CMS brings existing program orders of $4
million to LPC
CMS counts several top 20 global life sciences
companies as customers
Laser Photonics Corporation (“LPC” or the “Company”) (NASDAQ:
LASE), a global leader in industrial laser systems for cleaning and
material processing applications, today announced the closing of
its acquisition of Control Micro Systems, Inc. (CMS). This
transformative acquisition strengthens LPC's footprint in the
global laser market and directly opens the door to the high-demand
pharmaceutical equipment sector known for its growth and
stability.
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Wayne Tupuola, CEO of LPC commented:
“We’re excited to welcome CMS and its talented team into the LPC
family. CMS is well-regarded for its U.S.-designed and manufactured
laser solutions that offer precision and speed, and we share a
vision of advancing high-quality laser systems across various
industries. This acquisition is particularly significant as the
pharmaceutical market, with its stringent quality standards and
demand for technologies like slow-release tablet production and
anti-counterfeiting, provides both a recession-resistant
opportunity and high barriers to foreign entry. Combining our
expertise, we believe we are well-positioned to deliver
high-performance tools to clients worldwide who demand the best in
safety, sustainability and material processing.”
LPC acquired CMS’ assets through an asset purchase agreement for
approximately $1 million, primarily funded by cash from a recent
capital raise and stock. The acquisition was made possible through
divestments by CMS’ parent company as part of its Chapter 11
bankruptcy proceedings. LPC ensured a smooth transition by offering
positions to all CMS employees, providing stability and continued
service for CMS’ valued customers and vendors.
Tupuola added, “We believe the value we obtained from this
acquisition was substantial, as the assets were under-monetized due
to its former parent company’s over-leveraged financial position.
Over the coming years, we see a tremendous opportunity to unlock
CMS’s growth potential by integrating it into our existing sales
and marketing infrastructure, enhancing customer engagement and
expanding our market reach to maximize wallet share from current
customers and bring new clients on board.”
Reflecting on the strategic importance of the acquisition,
Carlos Sardinas, VP of Finance at LPC, emphasized in an interview
that CMS’ strong foothold in the pharmaceutical sector, alongside
its advanced laser systems for controlled-release medications,
positions LPC to further expand in the life sciences industry. CMS
clients include some of the world’s largest pharmaceutical
companies, underscoring this acquisition's value to LPC’s portfolio
and growth strategy.
About Laser Photonics Corporation
Laser Photonics is a vertically integrated manufacturer and
R&D Center of Excellence for industrial laser technologies and
systems. Laser Photonics seeks to disrupt the $46 billion,
centuries-old sand and abrasives blasting markets, focusing on
surface cleaning, rust removal, corrosion control, de-painting and
other laser-based industrial applications. Laser Photonics’ new
generation of leading-edge laser blasting technologies and
equipment also addresses the numerous health, safety, environmental
and regulatory issues associated with old methods. As a result,
Laser Photonics has quickly gained a reputation as a leader in
industrial laser systems with a brand that stands for quality,
technology and product innovation. Currently, world-renowned and
Fortune 1000 manufacturers in the aerospace, automotive, defense,
energy, maritime, nuclear, and space industries are using Laser
Photonics’ unique-to-industry systems. For more information, visit
https://www.laserphotonics.com.
Cautionary Note Concerning Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of applicable securities laws. These statements are
based on current expectations as of the date of this press release
and involve risks and uncertainties that may cause results and uses
of proceeds to differ materially from those indicated by these
forward-looking statements. We encourage readers to review the
“Risk Factors” in our Registration Statement for a comprehensive
understanding. Laser Photonics Corp. undertakes no obligation to
revise or update any forward-looking statements, except as required
by applicable laws or regulations, to reflect events or
circumstances after the date of this press release.
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Investor Relations Contact: Brian Siegel, IRC, MBA Senior
Managing Director Hayden IR (346) 396-8696 laser@haydenir.com
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