For Immediate Release
Apollo Optical Systems Announces Investment by Pike Street Capital
WEST HENRIETTA, NY – May 2, 2023 – Apollo Optical Systems (“AOS”), a leader in the design and manufacture of precision optical components and systems, announced today a major investment by Pike Street Capital (“Pike Street”), a Seattle-based private equity firm with extensive experience in the optics sector. AOS is based in the greater Rochester, NY area, well-known as an innovation hub for optics technology, and serves OEM customers in the industrial metrology, VR, commercial, LED lighting, medical instrument, automotive sensor and LIDAR, and defense markets.
“We’re excited to expand the solutions we can offer our customers with the additional investment and operational support from Pike Street,” said AOS founder and CEO Dr. G Michael Morris. “It was important to find a partner with demonstrated success in our field, and a shared vision for the future of the business. Pike Street is a great fit for us. We’re confident that the strategic partnership will benefit both our customers and employees.”
The principals at Pike Street have experience leading, operating, and investing in previous successful investments in the optics technology sector, including Radiant Vision Systems and Zemax, now owned by Konica Minolta and Ansys, respectively. The team anticipates building on the AOS platform by investing in additional businesses with complementary value propositions and technical solutions. Morris will continue as CEO at AOS.
AOS was founded in 2002 by Morris, an industry expert in diffractive and micro-optics technology in both research and commercial applications. The business builds on Dr. Morris’ expertise, partnering with customers throughout the product development cycle – from design to prototyping to final manufacturing and assembly of optical components and systems.
“This is a marketplace we know well, and holds tremendous potential,” said Dave Dandel, Partner at Pike Street Capital. “The AOS is team is comprised of renowned pioneers and its innovative technology continues to expand into new industries and applications. We are really excited to accelerate this growth trajectory”
About Apollo Optical Systems
Based in West Henrietta, NY, Apollo Optical Systems was founded in 2002 by Dr. G. Michael Morris, a renowned industry expert in diffractive and micro-optics technology in both research and commercial applications. AOS builds on Dr. Morris’ expertise, partnering with customers throughout the product development cycle – from design to prototyping to final manufacturing and assembly of optical components and systems. Morris continues to lead the business as CEO. More information is available at www.apollooptical.com.
About Pike Street Capital
Pike Street invests in middle market companies with leading market positions, strong management teams, and discernible growth drivers. With a combined 75+ years of investing and operating experience, Pike Street partners with management teams to build and execute a strategy for future growth. Pike Street Capital was co-founded by Paul Caragher, Dave Dandel and Ed Whatley. More information is available at www.pikestreetcapital.com.
Press Contact:
Ray Pini
Vice President, Business Development
Apollo Optical Systems
P: +1.585.557.4130
Pini@ApolloOptical.com
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