Context
Specim is the leading global supplier of hyperspectral imaging solutions, offering the broadest range of hyperspectral cameras, imaging spectrographs, systems, and accessories.
Specim is a recognized leader founded by pioneers in the commercialization of hyperspectral imaging. It has assembled a team of the world’s leading engineers in optics, electronics, software, and machine vision.
Hyperspectral imaging extends camera capabilities to hundreds of contiguous wavelength bands stretching beyond the visible range, resulting in new insights that can be used to discern materials and precisely characterize colours. It has applications in waste sorting and plastics recycling, food and pharma, people and plant health, agriculture and numerous other industries.
The hyperspectral imaging market is at an inflection point of rapid industrial growth, enabled by the rising adoption of machine vision. More and more machine builders are embracing the benefits of upgrading from visual cameras to hyperspectral imaging, with resulting improvements in quality, productivity and efficiency for their industrial end-customers.
Specim’s vision of “Spectral imaging made easy” means that its growing customer base can rely on the scalability of its technology and products and increasing ease of implementation through ‘out of the box’ solutions.
This acquisition will enable the deployment of Specim’s unique technology and capabilities to a massive global market under the trusted brand and experienced leadership of Konica Minolta.
About Specim, Spectral Imaging Oy Ltd
Specim, Spectral Imaging Oy. is the world’s leading manufacturer of hyperspectral imaging instruments and systems. Specim’s international team with expertise in optics, electronics, software, machine vision and remote sensing, serves the market with the broadest range of hyperspectral cameras, imaging spectrographs, systems, and accessories. Specim products and solutions are being used in an increasing range of demanding industrial and science applications such as colour measurement, recycling, food sorting and quality assessment, pharmaceutics production quality, geological core logging and mineral mapping, environment monitoring, agriculture and vegetation, process analytical technology (PAT), life sciences, and many other chemical imaging applications. As a true pioneer and forerunner in the field of hyperspectral imaging, Specim celebrates its 25th anniversary in 2020.
About Konica Minolta’s Sensing Business
Many of Konica Minolta products are used as de facto standard colour measurement instruments. Notably, Konica Minolta has more than a 50% share in the global market for display image quality measurement and inspection (estimated by Konica Minolta), and has a solid presence as the market leader.
Konica Minolta has actively promoted investments to strengthen its competitiveness. In 2012, the company acquired Instrument Systems GmbH (Germany), which develops high-end optical measuring instruments and has an outstanding track record in the high-performance measurement of displays and LED lighting devices. In 2015, the company acquired Radiant Vision Systems, LLC (U.S.), which excels at high-resolution 2D measurement instruments for displays, image processing software, and automatic appearance inspection systems. In 2019, the company acquired Eines Systems S.L. (Spain), which develops advanced visual inspection systems and solutions for the automotive production process.
Konica Minolta remains committed to developing its measuring instrument business as a market leader by offering various high value-added products and solutions that enable high-precision measurement of light and colour, and visual inspection for the ever-growing ICT and automobile industries.
Deal Team
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co acts as Sole Financial Advisor to the shareholders of Specim on the sale of the company to Konica Minolta
Bryan, Garnier & Co acted as Sole Financial Advisor to Specim shareholders in a timely, structured process, undertaking a broad reach-out to financial and strategic parties ranging from the West Coast of the US to the global Far East.
The process was highly competitive, with several interested parties submitting and revising bids all the way up to the deadline date, resulting in a broad choice of final offers.
The selected party, Konica Minolta, takes Specim to the right new home for its products and employees, and puts it in good hands for the next phase of growth. It meets the approval of founder shareholders and represents a successful financial outcome for departing shareholders.
Arve Lukander, Chairman of the Board stated, “Bryan, Garnier & Co demonstrated their global reach to relevant parties across sectors and executed a timely and highly competitive process, sustaining strong process momentum throughout COVID-related lockdowns. Given our experience of their work, and the outcome, which was successful for all parties, we would not hesitate to recommend Bryan, Garnier & Co ”.
This transaction builds on Bryan, Garnier & Co’s growing roster of transactions in the Industry 4.0 and Deep Tech spaces, covering sensors, electronics, imaging, robotics and IOT. Similar transactions include the sale of Smart Me Up (embedded computer vision) to Magneti Marelli, EUR 39 million of capital raised for Canatu (thin film optical displays), and the EUR 23m private placement for TactoTek (in-mould structural electronics) with 3M, Repsol and other investors.
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