Maven Capital Partners has invested £2.6 million in PowerPhotonic, the precision optics specialist whose technology underpins high-power laser systems used in aerospace, defence, healthcare and semiconductor manufacturing.
The deal, which includes backing from the Maven Income and Growth VCTs and IFS Maven Equity Finance – part of the Investment Fund for Scotland, managed by Maven and delivered by the British Business Bank – will support PowerPhotonic’s ambitious growth plans on both sides of the Atlantic.
The fresh capital follows £2.7 million in previous funding from Archangels and Scottish Enterprise over the past two years, and will enable the Dalgety Bay-headquartered company to scale up its operations, expand its Arizona manufacturing base and strengthen its sales and marketing activity.
Founded in Scotland and now serving a global customer base, PowerPhotonic has carved out a niche in designing and manufacturing freeform micro-optics that boost the performance and reliability of high-power laser systems.
Its proprietary process allows for the production of highly complex glass optics with exceptional accuracy – a step-change from traditional manufacturing methods. These components are increasingly critical in industries that rely on lasers for innovation and efficiency, from semiconductor fabrication to medical devices.
Amanda Robertson, who recently joined as group chief executive, said the investment marked “a real privilege” and a pivotal moment for the business. “The momentum created by this funding opens the door to cutting-edge innovation and deeper collaboration,” she said. “I’m looking forward to building on the company’s strong foundation and working with our exceptional team to shape the next chapter of our growth.”
David Milroy, a partner at Maven, described PowerPhotonic as “a highly scalable business with significant global potential”, pointing to its strong intellectual property portfolio and proven technology.
“The company operates in sectors where demand for precision optics is accelerating, and its ability to deliver complex, high-performance components sets it apart,” he said. “We are excited to support PowerPhotonic’s next phase of growth and believe the business will significantly benefit from the value-add of a strategic investor with significant experience in growing businesses globally.”
Roy McBride, founder and director of strategy and growth at PowerPhotonic, said closing the funding round was “a significant milestone” as the company accelerates its push in both the US and UK.
“With a strong and loyal customer base and access to high-growth markets, we’re now in a prime position to unlock new opportunities and deliver even greater value,” he said. “This investment reinforces our strategic vision and the confidence our partners have in our trajectory.”
Archangels and Scottish Enterprise have been longstanding supporters of the business. Niki McKenzie, joint managing director at Archangels, said the firm had helped PowerPhotonic unlock the potential of its deep intellectual property.
“Both the team and technology have developed at pace in recent years, attracting world-leading customers and being agile to support new applications,” she said. “With strong foundations and an array of opportunities ahead, we are excited to continue supporting PowerPhotonic in the next stage of growth.”
The British Business Bank also welcomed Maven’s role in supporting the expansion. “With rising demand across high-growth sectors like aerospace and life sciences, expertise in delivering complex, high-precision components means the business is well-positioned to meet this need,” said Sarah Newbould, senior investment manager at the bank’s Nations & Regions Investment Funds. “We look forward to backing its growth in the UK and US, helping to create skilled jobs and strengthen Scotland’s advanced manufacturing sector.”
PowerPhotonic’s growth push comes at a moment when lasers are becoming embedded in a widening range of industrial processes, from advanced manufacturing to defence systems. The company’s optics are seen as critical in enhancing laser efficiency, durability and output – attributes that are increasingly in demand.
For Maven, one of the UK’s most active private equity firms, the deal reflects a continued focus on companies with strong intellectual property and exposure to global growth markets. The investment in PowerPhotonic follows a string of deals across advanced manufacturing, life sciences and technology.
For Scotland’s economy, meanwhile, the expansion of PowerPhotonic represents another vote of confidence in its high-tech manufacturing base, with the promise of further skilled jobs in Fife and a growing footprint in the US.
