A Florida infrared optical components manufacturer recently acquired a Hudson-based thermal imaging and optics business emphasizing surveillance in a move the two companies estimate will create $55 million in revenue for the next year.
Hudson’s G5 Infrared was acquired by LightPath Technologies on Feb. 13 in a purchase valued at $27 million, the companies announced in a news release. G5 Infrared develops systems used for port security and border protection among other applications, according to its website, and generated $15 million in sales last year. The value is divided between $20.25 million in cash and $6.75 million in common shares.
Hudson’s G5 Infrared was acquired by LightPath Technologies on Feb. 13. (Image from G5 Infrared website)
LightPath, headquartered in Orlando, Florida, generated around $7.5 million in its latest quarter, a report on the acquisition by industry site Optics.org noted. LightPath manufactures aspheric — or not spherical — molded glass lenses, infrared lenses and thermal imaging components used in defense, telecommunications, medical applications and for drones.
“The acquisition of G5 Infrared is a transformative step in our strategy to become a leading vertically integrated provider of infrared imaging solutions,” said LightPath President and CEO Sam Rubin in the announcement of the acquisition. “G5 brings deep expertise in high-end cooled infrared camera systems and is considered the market leader in long-range imaging.”
The company has further operations in Texas, Latvia and China, where a December Germanium ban by China brought attention to the company.
LightPath developed a proprietary alternative to Germanium known as BlackDiamond glass, which it initially revealed in April 2024, per a news release from that time. The glass is primarily created from a chemical compound known as chalcogenide, which LightPath purchases under license from the U.S. Naval Research Laboratory in Washington, D.C.
G5 Infrared previously independently provided infrared coatings used for BlackDiamond glass, with the recent acquisition allowing LightPath to consolidate the process under one company.
“By integrating G5’s capabilities with our proprietary BlackDiamond glass and in-house optics manufacturing, we are enhancing our ability to deliver high-performance imaging solutions for defense, government and commercial applications,” Rubin said in the Feb. 13 announcement.
Rubin added that the move brings established relationships with naval, federal and law enforcement agencies that have used products from G5, whose CEO Lou Fantozzi expressed optimism about the manufacturers joining forces.
“We are eager to join the LightPath family, bringing what we believe is a highly incremental and complementary product offering to the robust product suite offered by LightPath today,” Fantozzi said. “Together, we believe we can significantly ramp sales, bring new products to market and ultimately drive enhanced profitability for shareholders.”
—TRISHA NAIL/NH BUSINESS REVIEW
