Oxford Cryosystems already has an extremely strong brand and excellent reputation in the scientific community
(PRWEB) September 25, 2010
Oxford, UK The buyout was initiated by Richard Glazer and Alex Renshaw of the company’s incumbent management team and was supported by both private equity and venture capital group, Catapult Capital. The company plans to use the opportunity to enhance its position as a market leader in the field of low temperature devices and to expand its product offering under the new team.
“Oxford Cryosystems already has an extremely strong brand and excellent reputation in the scientific community,” explained Richard Glazer. “This new opportunity will allow us to expand our product range in different markets in addition to meeting the continuously evolving requirements of our current customer base. We already have a very strong team at Oxford Cryosystems, with impressive combined experience in science and engineering and we hope to expand the team further as we move forward. I think I speak for everyone when I say this is a time of great excitement and anticipation.”
Oxford Cryosystems Ltd, based in Witney, Oxfordshire was founded by Professor Mike Glazer and John Cosier in 1985. In 2000, the company was sold to Ferraris Group plc, before passing into the ownership of Bionostics Ltd in 2008. Today the company is considered to be the global market leader in the design and manufacture of low temperature systems and software used for X-ray diffraction.
Recently the group also took over the manufacturing rights for the Coolstar range of Gifford McMahon Cryocoolers, used in applications as diverse as vacuum pumps and astrophysics.
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