New Ownership to Steer Specac’s Focused Market Future

Specac International Limited is following new directions to improve market penetration since members of its executive team and venture capital trust company, The Foresight Group, purchased the company from Smiths Group plc, owners since 1997.

Specac Managing Director, David Smith said: “Specac’s growth in recent years has been achieved through its focus on high quality, high specification accessories for the infrared and XRF spectroscopy markets. We have made it a key part of our commercial strategy to innovate, which has resulted in new products such as the Quest ATR, the leading accessory of its type in the market.

In recent years, we have also focused much of our effort on meeting the needs of customers in the emerging markets of the world, such as China, India and Singapore.

“We have a strong team of dedicated and experienced commercial, design, operational and administrative staff, and I believe (the) announcement is the beginning of a new, exciting chapter in the rich history of Specac. We can now be bolder in our decision making, quicker to market and better able to meet the service expectations of our customers.

“Foresight group has also introduced Kevin O’Donovan to our business as Non- Executive Chairman. Kevin has a strong sales and marketing background within the scientific instrumentation arena which will complement our existing management team and enable us to further develop within this niche market.”

Tom Thorp, Director of Foresight commented: “Specac is precisely the type of company that Foresight likes to support. Its strong product offering and wide geographical reach makes it an attractive investment opportunity for Foresight’s VCTs. David’s involvement combined with the expertise from Kevin, gives us confidence that we will see the business go from strength to strength.”

Kevin O’Donovan, Non-Executive Chairman, Specac International Limited added: “I am pleased to be associated with this exciting business and look forward to working with the Management Team and Foresight in order to achieve our business objectives.”