Cooke Optics
Specialist manufacturer of cine lenses
Contributing Sustainable Development Goals
Background
We began our investment partnership with Cooke Optics the highly recognised film industry brand in September 2015. Cooke has a 125+ year heritage, a superb product set, an established and differentiated market position and a loyal customer and user base. They are a specialist manufacturer of high-end cine lenses for the motion picture, television and advertising industries.
The business had an exciting plan for growth based on extending its existing product range, new product development and expansion of its UK production facilities. The management team had received several private equity approaches but selected GCP due to the cultural alignment, shared ambition to invest in the business and value add approach to organisational evolution.
Over the period of our three-year partnership, we expanded the product range from four lines to seven, invested in a new “clean room” production facility, positioned the business for long-term succession and doubled profitability.
We realised our investment in Cooke in July 2018 with a deal with a carefully selected financial investor that provided the right long-term home for the business.
Strategic Clarity
Proposition
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Product Strategy - Investment in new production facilities, expansion of the product categories and new product development
Accelerating Growth
Commercial
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Sales/GTM - Expansion and formalisation of sales and marketing activities, particularly in Asia and North AmericaCooke
People & Organisation
Leadership
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SLT - Recruitment of senior sales, production and finance heads to build senior leadership team
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Succession Planning - Formalised board structure to support succession plan and leadership
Platform for Success
Leadership
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Finance Function - Evolved board reporting, KPIs and financial risk management
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Operating Systems - Investment in production capacity through the opening of a “clean room” production facility
- Investment in inventory management and production systems
Delivering the Best Outcome
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High-Quality Delivery - Strong growth, a well-invested business with capacity to increase production and an impressive orderbook supported by innovative new products
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Maximising Value Through Process - We single-source funded the entire deal at completion with a flexible capital structure to suit the needs of the business and shareholders
- An excellent outcome for all shareholders delivering impressive financial metrics and finding a long-term home for Cooke