Management Led Buy-Out Creates Ibsen Photonics
"It is with great pleasure that today we can announce to our customers and our employees that we have established Ibsen Photonics with the backing of first class investors, and that we have taken over all the relevant assets from ADC Denmark," says Torben Jacobsen, President and CEO of Ibsen Photonics. "We have clearly benefited from being part of the ADC organization, and we have already identified a number of strategic opportunities for co-operation."
Ibsen Photonics is based on more than 10 years of history, starting out as Ibsen Micro Structures in 1991 and being acquired by ADC in May 2000 to form ADC Denmark. Since May 2000, ADC Denmark grew rapidly, moved to new facilities including a 1300 sqm cleanroom area (mainly class 10) and focused on implementing new operational procedures and systems. Ibsen Photonics will start out with 71 employees and will be comprised of the same management team that previously led ADC Denmark. Per E. Ibsen, the founder of Ibsen Micro Structures, will join Ibsen Photonics as VP of Business Development.
"We are continuously introduced to new investment opportunities in the present market environment. Ibsen Photonics is a strong player in niche markets and has a leading market position with its Phase masks and a clear path to differentiated DWDM modules based on Ibsen diffractive grating know how. Take this sound technology base and combine it with an experienced team, operational focus and first class facilities and our decision was made easy," says Steffen Thomsen, investment director for management buy-outs, 3i Denmark.
Ibsen Photonics is already today a leading manufacturer of holographic Phase masks, a strategic tool for manufacturers of Dense Wavelength Division Multiplexing (DWDM) telecommunication components like fiber Bragg gratings, DFB lasers and integrated optics.
"Interviews with leading component manufacturers in connection with our due diligence convinced us that Ibsen Photonics has a very sound technological foundation and a leading reputation within Phase masks," says Niels Kristian Agner, managing director of Dansk Kapitalanlæg and elaborates. "The positive influence of ADC during their ownership is evident, and the focus on operational management has already led to an impressive capacity expansion and further expansion is planned."
Ibsen Photonics expertise in diffractive gratings is extended to DWDM modules by using Ibsen gratings to separate individual DWDM channels. The first product to be based on this technology platform is the D-MON power monitor.
"Our grating technology combined with our optical design capabilities have enabled us to demonstrate prototypes of our D-MON channel power monitor which provide a unique combination of very compact size, low power consumption and fast acquisition speed – all factors that are important for in line channel power management of DWDM networks," says Dirk Jessen, VP Sales & Marketing of Ibsen Photonics. "Integrated DWDM power monitoring in network elements like Erbium Doped Fiber Amplifiers (EDFA's) and dynamic Optical Add Drop Multiplexers (OADM's) enables more dynamic networks and reduces installation and maintenance cost – thereby reducing operational costs of DWDM networks which in today's environment is a must for any DWDM module or component."
Ibsen Photonics is established as a new company, but will continue all the activities of ADC Denmark.
"We are focussing our activities on bulk grating applications, our core expertise in which we have more than 10 years experience," says Kristian Buchwald, Ibsen Product Manager for Phase masks. " We will continuously target our Phase masks specifications to improve the manufacturability of our customers products and thereby enable them to meet the demands of the DWDM market place."
The investors were advised by Arthur D. Little Limited in connection with their investment in Ibsen Photonics A/S.
About Ibsen Photonics
Ibsen Photonics is leveraging more than 10 years experience in diffractive optics to market Ibsen Phase masks that increase manufacturability of optical components. Ibsen Photonics also focuses on DWDM modules based on Ibsen Diffractor technology that increase flexibility and improve operational costs of telecommunication DWDM networks. Ibsen Photonics is funded by leading European venture capital and private equity provider 3i as well as Dansk Kapitalanlæg Aktieselskab, Denmarks largest venture capital provider.
About 3i
3i brings capital, knowledge and connections to the creation and development of businesses around the world. It invests in a wide range of opportunities from start-ups to buy-outs and buy-ins, focusing on businesses with high growth potential and strong management.
3i invests in businesses across three continents through local investment teams in Europe, Asia Pacific and the USA. To date, 3i has invested over £13.5 billion (including co-investment funds). In the 12 months to 31st March 2001, an average of £7.8 million (including co-investment funds) was invested each working day.
About Dansk Kapitalanlæg Aktieselskab
Dansk Kapitalanlæg (DKAP) is Denmarks largest venture capital provider with approximately DKK 2 billion in venture capital and is listed on the Copenhagen Stock exchange.
The company invests in competitive companies with revenue and earnings growth potential and plays an active role in their development. Poseidon has about 1 billion DKK invested in 73 portfolio companies and several of these are within the fiberoptic industry.
For further information contact:
Ibsen Photonics A/S:
Dirk Jessen
VP - Sales and Marketing
Phone: +45 44347013
dirk.jessen@ibsen.dk
3i Danmark:
Steffen Thomsen
Investment director
Phone: +45 33476703
steffen_thomsen@3i.com
Dansk Kapitalanlæg:
Bent Kiemer
Department manager
Phone: +45 33369428
bkiemer@dankap.dk