Tant Labs of Bishop's Stortford has been acquired by Caerphilly-based Lenstec, which recently celebrated its 25th anniversary as an independent lab.
Nelson Hawkes, chairman and owner of Tant, will step down after almost 45 years in the lab business, while Nigel Castle, Lenstec's major shareholder and managing director, will become overall managing director. Tant managing director Gez Donovan, a chartered accountant, will take on the role of financial director of the combined companies.
Hawkes said he had worked on the deal with Lenstec for the past year and that Tant Labs would continue to trade independently. 'We have known each other for 30 years and Tant and Lenstec share the same quality ethics and reputation in the independent sector.'
He added that the labs were very similar, with the acquisition being a good fit for Lenstec, giving it a greater presence in London and across the UK. The combined labs' buying power and IT would be stronger, with more investment assured. 'I'm thrilled for all the team here and their future is secure with two strong independent labs joining together to support the independent optician.'
Castle added: 'Our aim is to bring customers the benefits that our combined labs will be able to establish. The acquisition by Lenstec ensures a very positive future with commitment to invest in our customers, in continued staff training and in the latest production equipment, together with new and exciting products and services.'
He added: 'Both companies will continue to operate as separate brands while taking advantage of a strengthened management team in this difficult marketplace and climate, with focus on the independent market.'
The expanded sales force will be headed by sales director Martin Burroughs, while Joanne Adam, Tant's marketing manager, takes the role across the two companies.