FAQs: Acquisition of ITL Group by Gooch & Housego PLC
Who has acquired ITL Group?
Gooch & Housego PLC (G&H)
Does G&H have a particular speciality?
G&H is a global leader in photonics technology. Their expertise extends from research through the development of prototypes to volume manufacturing of modules and sub-assemblies and enables innovation and effective manufacturing in the aerospace & defence, industrial and to a lesser extent, life sciences and scientific research sectors.
When did the acquisition take place?
August 8th 2018
What was it about ITL that attracted G&H?
- ITL is a commercially healthy and technically capable organisation with an experienced workforce and a strong management team that has forged long-standing relationships with its customers.
- ITL provides integrated systems for the medical and in vitro diagnostic device sectors in alignment with G&H’s strategic objectives to expand the scope of their medical division and to move further up the value chain by transitioning from component supplier to critical partner.
- ITL has a facility in China and a strong understanding of the Chinese market.
What does this mean ITL leadership?
Although there will be a change of ownership, Managing Director, Tom Cole and Business Development Director, Greg Smith will remain in their current positions. There will be no change to the ITL management team.
What does this mean for ITL going forward?
ITL will continue as a contract design and manufacturing partner to its current customers with facilities in the UK, USA and China. This acquisition provides ITL with a greater critical mass enabling future growth from having access to more customers, a bigger supply chain, the backing of a much larger global organisation and this will help take ITL to the next level. Vitl Life Science Solutions will also continue to be developed and sold by ITL Group.
What does it mean for ITL employees?
This acquisition means that ITL employees will benefit from even more stability, increased growth and consequent opportunities.
What about the ITL Group name?
The ITL Group name will remain but the tagline ‘a Gooch & Housego company’ will be incorporated.
Will there be any consolidation?
ITL’s strong medical and in vitro diagnostic (IVD) focus and systems-based approach makes it unique to the G&H group of companies. Therefore, a group consolidation is unlikely and ITL will continue to operate from its current facilities.
For any enquiries regarding the acquisition of ITL Group and Gooch & Housego, please contact us.