London, 27th December 2017: Baird Capital is pleased to announce the sale of RaySpec (the remaining part of its portfolio company previously known as SGX Sensortech) to Polatechno Co Ltd of Japan. 

Headquartered in High Wycombe, UK, Rayspec is a leading supplier of high specification silicon-based energy dispersive X-ray detectors and electronic pulse processing systems. The company designs, manufactures and sells detectors and systems for research equipment in the X-ray analytical market serving an international customer base.

Dennis Hall, Partner & Co-Head Global Portfolio Operations for Baird Capital, commented, "We are very pleased to have supported RaySpec's development and believe that Polatechno and its subsidiary Moxtek (with whom RaySpec have an existing close trading relationship) provide an excellent platform to further expand their mutual businesses. We are also pleased that, in combination with the September 2016 sale of the air quality sensors business1, we have completed the exit of our investment in SGX Sensortech. This investment began as a corporate carve out and involved significant investment in new product development alongside multiple operational enhancements (a new manufacturing facility in Poland, developing a China supply chain for both cost and local market supply benefits), the success of which can ultimately be seen in the high quality strategic acquirers of both operations.”

Baird Capital and RaySpec were advised by Livingstone Partners (financial) and Eversheds Sutherland (legal).


Note 1: AQS was sold in September 2016 to Amphenol Corp. AQS develops, manufactures and supplies advanced gas sensing products for automotive, industrial and indoor air quality applications. The company’s product portfolio includes MEMS, infra-red and pellistor based technologies. From its manufacturing facilities in Switzerland and Poland, the company serves a global customer base of blue chip OEMs and tier 1 suppliers across its core markets.