Private equity firm Arlington Capital Partners has acquired the Zemax division of Radiant Zemax, a provider of optical and illumination design software to design engineers.
Zemax becomes the sixth company with licensable software in Arlington Capital's current portfolio, joining Advanced Health, Compusearch, Iron Data, Novetta, and Quantum Spatial.
Zemax’s OpticStudio software platform allows users to design, tolerance and simulate sophisticated optical or illumination systems. The company’s installed base spans across 80 different countries and includes over 7,500 different companies, including global industry leaders in aerospace, defence, medical/life sciences, technology, and leading research and development units within the government.
Michael Lustbader, a partner at Arlington Capital, says: “Zemax’s technically superior software algorithms have long represented the best value proposition in the rapidly growing optical and illumination design software market, and the company is ideally positioned to benefit from the strong macro growth trends in its underlying market sectors. In addition, we believe the company has significant potential to expand its traditional user base beyond expert users, and we are excited to partner with the Zemax team to execute an aggressive growth plan as a standalone company.”
Mark Nicholson, CEO of Zemax, says: “We have an exciting, ambitious roadmap for the Zemax software suite, and we are eager to begin our next chapter of growth with Arlington as our partner. Arlington’s relationships and software domain expertise have already proven to be a strong asset to our team, and we are looking forward to working closely with Arlington to rapidly scale the business.”
The senior debt financing for the acquisition was provided by Ares Capital, and the subordinated debt financing was provided by Stellus Capital Management and Metropolitan Life Insurance Company.
