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PRINT THIS PAGE Candover to acquire High Tech Optics from Thales for €220m23/09/2005. Source: AltAssets. 
 Candover has agreed to acquire the High Tech Optics division of Thales for €220m. Management will also be investing in the transaction.
HTO designs and manufactures high precision optical components and modules for military and civil applications. HTO has principal operations in the UK and Singapore and other manufacturing or commercial activities in France, Germany, Hungary and the US. The company employs approximately 1,400 people and reported revenues of €124m in 2004.
Cyril Zivré, director of Candover, said, 'HTO fits Candover's investment criteria perfectly: It is a global leader in its field; it has a niche position in an industry with significant growth potential; enjoys long established relationships with its large customer base; and is led by an experienced and well-respected management team.'
'HTO provides us with a strong platform for industry consolidation and we look forward to working with management to identify acquisition and expansion opportunities,' Zivré continued.
The investment in HTO will be the 15th investment made by the Candover 2001 Fund, which will be 86 per cent drawn down following the completion of the transaction. Candover is currently raising a new fund, the Candover 2005 Fund.
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