Headwall Photonics Acquires inno-spec GmbH

Arsenal Capital Partners Recapitalizes Headwall Photonics

January 20, 2022

Manufacturing

Arsenal Capital Partners led a recapitalization of Headwall Photonics, becoming the majority owner in partnership with the company’s existing management and ownership. The deal will provide Headwall — a designer and manufacturer of hyperspectral imaging systems, spectral instrumentation, and optical components — with capital to accelerate product development and pursue organic and inorganic growth opportunities.

Headwall Photonics Acquires Holographix LLC

June 30, 2022

Manufacturing

Headwall Photonics, a Bolton, Massachusetts-based manufacturer of hyperspectral imaging systems and holographic gratings, acquired Holographix LLC, a Marlborough, Massachusetts specialist in micro- and nano-structure replication. The acquisition expands Headwall's manufacturing capabilities and product portfolio—adding replication technology for microlens arrays, structured diffusers, waveguides, and replicated mirrors to serve life sciences, semiconductor, aerospace & defense, and metrology end markets.

Headwall Group Acquires EVK DI Kerschhaggl GmbH

January 14, 2025

Industrial Services

Headwall Group, a Bolton, Massachusetts-based portfolio company of Arsenal Capital Partners, has acquired Austria-based EVK DI Kerschhaggl GmbH (EVK), a developer of industrial sensor-based sorting and inspection systems. The acquisition expands Headwall's hyperspectral imaging and sensor capabilities to better serve markets such as food processing, plastics recycling, and material sorting.

Inspecs Group plc Acquires Eschenbach Holding GmbH from Equistone

November 19, 2020

Consumer Products

British eyewear designer and manufacturer Inspecs Group plc has agreed to acquire a majority stake in Nuremberg-based Eschenbach Holding GmbH from funds advised by Equistone Partners Europe. The deal (reported at approximately €94.85 million) combines two leading eyewear businesses to strengthen the enlarged group's global market position, broaden product and customer portfolios and accelerate international expansion; the transaction remains subject to regulatory approvals.

Headwall Photonics Makes Strategic Growth Investment in perClass BV

July 7, 2022

AI & Machine Learning

Headwall Photonics announced a strategic growth investment in perClass BV, the developer of the perClass Mira machine‑learning spectral analysis software. The investment brings perClass into the Headwall Group (with perClass shareholders retaining partial ownership) to accelerate Headwall’s machine‑vision strategy and deepen integration between perClass software and Headwall’s hyperspectral sensors.

Luna Innovations Acquires General Photonics

March 4, 2019

Telecommunications

Luna Innovations Incorporated acquired General Photonics Corporation, a Chino, California-based provider of polarization management components, modules and optical test equipment, for $20 million (including up to $1 million earnout). The purchase expands Luna's Lightwave division and strengthens its communications test product portfolio by adding complementary measurement and polarization control capabilities and vertical integration synergies.