Luxium Completes Acquisition of Inrad Optics

On Jul 2, 2024

Luxium Solutions, LLC of Hiram, Ohio, a provider of high-performance crystals used in photonics and radiation detection applications, has completed its acquisition of Northvale, New Jersey-based Inrad Optics, Inc. a company that fabricates optical materials and incorporates them into advanced optical components, assemblies and systems.

“I would like to thank our customers, shareholders, and other stakeholders for their continued support over the past 51 years,” said Amy Eskilson, president and CEO of Inrad Optics. “I would also like to extend my heartfelt thanks to our Board of Directors for their support and guidance throughout the acquisition process. We are well positioned for future success.”

“We are excited to collaborate with Inrad Optics’ seasoned team of technical and industry experts. We believe this acquisition will significantly enhance the range and value of solutions we can provide to our customers,” said Michael Cahill, CEO of Luxium Solutions. “Both Luxium and Inrad Optics contribute complementary technical expertise in applied material sciences and optics, empowering our customers’ applications. This partnership marks a significant step in expanding our capabilities, resources, and the added value we can offer to our customers globally.”

Luxium, Inrad Optics, and PLX Inc. (acquired by Luxium in May 2024) anticipate leveraging the combined strengths and resources of all three organizations to deliver enhanced value to their customers, stakeholders, and employees. This move underscores Luxium’s commitment to growth and innovation within the optics and photonics industry.

CriticalPoint Partners, LLC is serving as financial advisor to Luxium Solutions, LLC and Latham & Watkins LLP is serving as legal counsel to Luxium Solutions, LLC.

Needham & Company, LLC is serving as financial advisor to Inrad Optics and Lowenstein Sandler LLP is serving as legal counsel to Inrad Optics.

Luxium is recognized as atechnology leader and provider of single crystal scintillation materials for radiation detection applications, as well as sapphire and garnet substrates for photonics and power electronics. With 400+ employees across production facilities in the US, France, and India, and sales offices in China and Japan, Luxium serves a global base of 650+ customers across a diverse set of applications across medical imaging, security and border protection, semiconductor, aerospace and defense, oil and gas and other industrial markets.

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