Location

Belfast

Investment Date

2005

Avalon Instruments

Crescent led an investment round into Avalon Instruments in June 2005. Other investors in the round were QUBIS, the University Challenge Fund, Invest NI together with directors and management.

Avalon was a spin out from Andor Technology plc and is a developer, manufacturer and seller of scientific analytical instrumentation based on Raman spectroscopy techniques.

Avalon’s heritage and linkages with both Andor Technology plc and Queens University Belfast very strong. The company validated the technology, product design and the broad market opportunity through market engagement during its life to date. The company’s significant product and application knowledge was matched to an increasing emergence of Raman spectroscopy as a mainstream analytical technique and the instrument was sold to a number of specialist users worldwide.

In 2006 the company received an attractive offer from Perkin Elmer, a leading US health and scientific instrument manufacturer quoted on the New York Stock Exchange, The company was sold in September 2006 for a significant premium to our original cost. Although the business traded on for a period in Belfast following the aquisition, the Avalon operation has now been fully obsorbed into Perkin Elmers US operation.

Avalon was a spin out from Andor Technology plc and is a developer, manufacturer and seller of scientific analytical instrumentation based on Raman spectroscopy techniques.