Caledonia Investments takes majority stake in Leicester lens maker

Caledonia Investments takes majority stake in Leicester lens maker
Credit: Shutterstock.com/ ASDF_MEDIA

Caledonia Investments has acquired a majority stake in Cooke Optics, the Leicester-based maker of cinematography lenses for film and television, in a deal valuing the business at £96.5 million.

Caledonia has subscribed £62.5 million of equity and £30 million of debt to acquire approximately 89% of Cooke from its current owners, Growth Capital Partners and Cooke’s management team.

The management team have reinvested £7.8 million of their sales proceeds for the remaining equity.

In the year to 30 June 2017, Cooke reported EBITDA of £7.7 million and profit before tax of £2.8 million, and at that date had gross assets of £33.8 million.