ITL Group Acquired by Gooch & Housego PLC
Gooch & Housego PLC (G&H), the leader in photonics technology and specialist manufacturer of optical components, has completed the acquisition of ITL Group in order to expand its presence in the Medical sector.
Founded in 1977, ITL is a specialist in the design, development and manufacture of high-quality medical and in vitro diagnostic (IVD) devices. Combining more than 40 years’ experience with an established roster of long-standing international clients, ITL brings with it the reputation of being one of the most progressive and trusted contract design and manufacturing partners in the market today. ITL’s strong market position in the MedTech sector highlights their commitment to continuity, stability and growth.
The organization is led by Managing Director, Tom Cole and Business Development Director, Greg Smith – both of whom will remain with the business.
The acquisition of ITL is aligned with G&H’s strategic objectives to expand the scope of their medical division and to move further up the value chain by transitioning from component supplier to critical partner.
Tom Cole, Managing Director of ITL, commented:
“This acquisition will further broaden our service offering and strengthen our ability to provide our customers with innovative solutions to meet their challenging needs. We are excited to be working with the G&H team and look forward to collectively growing our company and continuing to deliver outstanding service to the MedTech industry.”
ITL Business Development Director, Greg Smith, said:
“I am pleased that ITL Group is becoming part of Gooch and Housego as the strategic fit works for both companies. ITL will benefit from the critical mass that G&H has and G&H will benefit from ITL’s systems approach, which will enable it to move further up the “value chain” by developing larger modules and systems for its customers. In addition to looking after our growing number of current customers, I foresee a lot of new opportunities being generated by this synergy and I look forward to working and growing with the G&H team.”
For more information regarding the acquisition, please visit ‘FAQs: Acquisition of ITL Group by Gooch & Housego PLC’