COBALT advised a strategic investor on the acquisition of 25% shares of Light Conversion

COBALT advised 7-Industries on the acquisition of 25% shares of Light Conversion. Algirdas Juozapavičius, who has been in charge of Light Conversion since its establishment in 1994, sold all his shares to 7-Industries. Other shareholders sold a small part of the company each.

The investor 7-Industries is only interested in the best technology companies. COBALT Partner Dr Juozas Rimas comments: “I am glad for the achievements of Lithuanian physics science, which are finally appreciated on a global scale not only with respect.”

7-Industries is a family company owned by Ruthi Wertheimer, a representative of the second-generation family-owned IMC Group. Following the sale of the majority stake to Berkshire Hathaway in 2006, a US investor, Mr Wertheimer set up the 7-Industries family office in the Netherlands.

7-Industries invests in technology companies in the industrial and life sciences sectors through partnerships. Over the past 15 years, 7-Industries has invested in more than 10 companies in Europe in sensor manufacturing, imaging, photonics and robotics. When investing, a family office seeks for long-term partnerships, but does not seek to take over dominance in the businesses in which it has invested.

Light Conversion is a company that manufactures femtosecond lasers and parametric optical generators. Its revenue grew about 14% last year to over EUR 66.95 million. Lasers produced by Light Conversion are used in mobile devices, medical equipment, car injectors, and elsewhere. The main customers are industrial companies and scientific institutions, and the main products are femtosecond lasers and their systems, most of which are exported to the world’s scientific and industrial centers in Germany, Australia, Japan, the USA, China and the United Kingdom. The company has offices in the United States, China and South Korea.

Our work comprised of advice to the client during the whole deal process, including assisting the client with the due diligence, drafting and negotiating the transaction documents. The team consisted of Partner and Head of the Mergers and Acquisitions (M&A) Practice Group Juozas Rimas and Managing Associate Deimantė Pagirienė.