BoM guides founder in multi-million dollar sale of Quest to Olympus

Description

Founder Richard Meester has sold his business Quest Photonic Devices to Olympus of Japan for 56 million euros. In the business sale he was assisted by Centrum voor Bedrijfsopvolging (CvB).

Quest Photonic Devices' innovative cameras offer pioneering solutions in healthcare. With special fluorescence imaging technology and software, the business manages to make the invisible visible in operating rooms. These techniques are used in imaging different types of tissue from tumors, blood flow and lymph nodes, among others.

Through various rounds of financing, the business managed to grow significantly in recent years. Needing more venture capital to finance the necessary investments in marketing its products, building production capacity and increasing its R&D budget, Quest came to the table with Olympus of Japan, a market leader in surgical imaging systems. The Middenmeer business was sold for 56 million euros.

Centrum voor Bedrijfsopvolging

Quest was assisted in the search process and settlement of the multi-million dollar acquisition by acquisition advisory firm CvB. The process was supervised by CvB partners Hans de Leeuw and Pieter van der Spek. 'From the initial investment memorandum to the final settlement, we assisted Quest in the Olympus acquisition,' says Van der Spek. 'We know from experience all aspects of the processes involved in transferring, acquiring or sell a business, especially also the social-emotional aspects. After all, we are all experts by experience.'

Quest will continue its operations as a subsidiary of Olympus and focus on technology and developments in fluorescence imaging. Founder Meester will remain involved with Quest and will also continue to oversee new developments. Meester: "With this transaction, we receive recognition for our vision and strategy that we have implemented so far and have the opportunity to further expand our technology in the market together with Olympus.