Headwall Acquires inno-spec GmbH

Headwall takes significant step towards expanding its leadership in hyperspectral imaging technologies based on three strategic pillars: industrial applications, remote sensing, and optical components

January 23, 2024

Bolton, MA, USA & Nuremberg, Germany - Headwall Photonics®, a pioneering force in spectral imaging solutions for remote sensing and industrial machine vision, today announced its acquisition of inno-spec GmbH of Nuremberg, Germany, a prominent manufacturer of industrial hyperspectral imaging systems used in high-volume recycling, industrial sorting, and quality testing. Headwall Photonics is a portfolio company of Arsenal Capital Partners.

Mark Willingham, CEO of Headwall Photonics, expressed enthusiasm about the acquisition, saying, “This strategic move marks a significant step forward in our mission to deliver comprehensive hyperspectral imaging solutions. By integrating inno-spec’s expertise in providing reliable industrial solutions with our advanced spectral imaging technologies, we aim to enhance our offerings and extend our global reach, especially in the rapidly evolving sector of industrial machine vision.”

inno-spec, renowned for its innovative hyperspectral imaging solutions in multiple industrial settings, has been a key player in advancing machine vision technology. “Joining forces with Headwall Photonics represents a tremendous opportunity for inno-spec to scale our technology and tap into new markets," stated Oliver Grass, founder and CEO of inno-spec. "We are excited to become part of this group that shares our commitment to innovation and quality and to drive the industrial machine vision segment; together we evolve the next generation of hyperspectral imaging systems.”
The acquisition combines Headwall's cutting-edge optical components and remote sensing technologies with inno-spec’s specialized knowledge in industrial applications enabling the development of more advanced, efficient, and versatile hyperspectral imaging systems and reinforcing the company's position as a leader in the field.

“Headwall Photonics is committed to ensuring a smooth transition for inno-spec’s employees and customers. Our top priority is to maintain the high level of service and product reliability that our customers expect from us," added Willingham. "We are dedicated to leveraging the strengths of both companies to drive growth and deliver value to our customers and stakeholders."
For more information about the acquisition, please visit headwallphotonics.com/press-releases

About Headwall
Headwall® Photonics, Inc. is a leader in spectral imaging solutions for remote sensing, industrial machine vision, and advanced optical components. The company specializes in the development and manufacturing of integrated spectral imaging systems and components that deliver precise, high-resolution data for a wide range of applications. The company was acquired in 2022 by Arsenal Capital Partners, a leading mid-market private equity firm. Headwall has since acquired Holographix, a manufacturer with proprietary replication technology enabling high-performance, yet lower-cost, components for OEM customers across a variety of industries, and perClass BV, developer of intuitive spectral imaging analysis software. For more information, please visit headwallphotonics.com

About inno-spec
inno-spec GmbH is a leading provider of hyperspectral imaging systems, specializing in industrial machine vision applications. Based in Nuremberg, Germany, inno-spec has been at the forefront of developing innovative solutions since 2005 that enhance efficiency
and accuracy in various industrial processes. For more information, please visit inno-spec.de

Advisors
Carlsquare Ltd. served as exclusive financial advisor to Headwall Photonics Inc. on the transaction. ARTHOS Corporate Finance GmbH served as exclusive financial advisor to inno-spec GmbH.

For more information, please contact:
Ross Nakatsuji
Headwall Marketing Communications Manager
580 Main Street
Bolton, Massachusetts 01740
Tel: +1-978-353-4051
E-Mail: rnakatsuji@headwallphotonics.com