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SCOTTS VALLEY — Hyland Optical Technologies Corp., a small optical assembly manufacturer formed earlier this year, has bought the assets of Ealing Catalog Inc., a San Jose-based company, for an undisclosed sum.
The deal adds a well-established brand to the small manufacturing company’s relatively new portfolio and accelerates plans to grow the company, said Philip Crowley, Hyland president.
“We saw a good opportunity to buy the brand,” Crowley said. “It’s something we can build on and grow.”
Ealing has been a provider of photonic products for research and OEM customers in the life science and industrial fields for more than 50 years. It has had numerous different incarnations and parts of the company were sold off over the years making it a relatively small deal, according to Crowley.
“It was not a very large deal,” he said.
Crowley, who owns Market Tech Inc., an 11-year-old Scotts Valley business that distributes and sells photonic equipment, cofounded Hyland with Omicron Laserage, a German based company. In 2009, Market Tech was listed as 104 in Inc. magazines top 500 fastest growing companies. In 2008, revenues were listed as $5.2 million.
Hyland incorporated in California in January. It will supply optomechanical assemblies primarily to companies working in research, high-tech and life sciences. The company’s products end up embedded in things like laboratory cell sorters and semiconductor inspection equipment.
“There are all sorts of interesting applications,” for photonics, Crowley said.
The industry has experienced consolidation recently, but is still growing, he said.
“Most importantly, it’s a business we understand. That’s the main driver for us to take on these products.”
Sonke Baumann of Omicron serves as the company’s chief executive officer.
“We are very excited to have a valued brand like Ealing Catalog as part of our portfolio that has a long history of providing photonics tools,” Baumann said in a prepared statement.
Hyland, which employs three people, including Crowley, is located in about 3,000 square feet on El Pueblo Road. It joins a growing neighborhood of local manufacturers in Scotts Valley that includes Zero Motorcycles, FOX shock company and Thermo Fisher Scientific. Hyland plans to have two to three times as many employees, primarily in skilled manufacturing positions by this time next year.
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Hyland Optical Technologies Corp.
WHAT: A privately owned company that designs develops and manufactures optical and optomechanical assemblies for life science, research and industrial applications. Generally customers are original equipment manufacturers (OEMs) and catalog customers.
HEADQUARTERS: 340 El Pueblo Road, Suite E, Scotts Valley
INFORMATION: 461-1930; www.hylandopticaltechnologies.com
HISTORY: Formed by principals from Market Tech Inc. of Scotts Valley and Omicron Laserage of Rogau, Germany
LEADERSHIP: Philip Crowley, president, and Sonke Baumann, chief executive officer.
EMPLOYEES: The company employs three people.