U.K.-Based Candover Buys Thales HTO for £151 Million

London -- Thales, a France-based electronics and systems
group, announced that it has sold its optical components (HTO)
activities in the U.S., Singapore, Germany, Hungary, Singapore,
the U.K. and the U.S. to Candover, a U.K.-based private-equity
firm, for approximately £151 million (220 million euro). Thales
HTO designs and manufactures optical components and
modules for military and civil applications, particularly in the
areas of infantry night vision, optical components, optical
modules and optical coatings. "HTO fits Candover's investment
criteria perfectly," said Candover Managing Director Cyrille
Chevrillon. "It is a global leader in its field, has a niche position in
an industry with significant growth potential, enjoys long-
established relationships with its large customer base and is led
by an experienced and well-respected management team."
http://www.thalesgroup.com/home/home/