LightPath Technologies, Inc. (NASDAQ: LPTH) noticed its shares tumble early in Thursday’s session. The Orlando, Fla.-based company, a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced the accretive acquisition of G5 Infrared, LLC, a leading high-end infrared camera systems manufacturer, purchased for a combination of cash and stock – creating a global, vertically integrated optics leader.
Acquisition accelerates execution of strategic vision to become a leading vertically integrated infrared imaging solutions provider in the $9B infrared imaging market
G5 Infrared adds complementary high-end cooled infrared camera product family with numerous programs of record to significantly enhance near-term growth
Accretive acquisition adding significant scale
Combined company is at a revenue growth infliction point, and expected to achieve at least $55 million in revenue in the 12 months following the acquisition.
Transaction accelerates LightPath’s momentum towards achieving long-term 20%+ revenue growth with EBITDA margins in excess of 15%
Acquisition financing secured from new and existing institutional investors
Significant opportunity to integrate BlackDiamond™ glass with G5’s high-end product portfolio.
Founded in 2011, G5 is a leading vertically integrated manufacturer of high-performance infrared camera systems and imaging solutions, specializing in advanced thermal imaging technology.
The company specializes in long-range mission-critical detection solutions, focusing on defense, border security, and CUAS/Counter-Drone markets.
As for LPTH, its shares lost 97 cents, or 27.6%, early Thursday to $2.54.
