Pfingsten announces the acquisition of its latest platform investment, Pacific Lasertec (“PLT” or the “Company”), a manufacturer of specialty lasers and related power supplies.
Headquartered in San Marcos, CA, with an additional manufacturing facility in Colorado Springs, CO, PLT’s products support critical applications across medical diagnostics, semiconductor, scientific research and development, advanced manufacturing and life sciences end markets. The Company sells its products through various channels, including factory direct, exclusive distributor relationships and private label. “PLT creates significant value for its customers through its technical expertise and highly consultative problem-solving approach,” said Phillip Bronsteatter, Managing Director at Pfingsten. “We look forward to working closely with PLT’s management team to enhance their capabilities organically and through strategic add-on acquisitions by expanding into new products and end markets to build a leading solutions provider to the photonics industry.”
“We’re thrilled to partner with Pfingsten to build a strong photonics platform together,” said PLT CEO, Lynn Strickland. “Pfingsten’s operational resources, global capabilities, conservative capital structure, and strong cultural fit will enable our business to rapidly scale and diversify in the coming years.” Pfingsten proactively targeted a platform in the photonics industry over 12 months ago in partnership with Blake Fennell, an experienced photonics executive who will be an advisor to PLT post-closing.
Pfingsten acquired the Company on August 25, 2023. For more information on PLT, visit pacificlasertec.com and voltex.net.
About Pfingsten
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL, and representative offices in India and China, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 164 manufacturing, distribution and business services companies. For more information, please visit pfingsten.com.
