Exciting news...

BB&T Capital Partners Announces Acquisition of

JML Optical

Company founder, Joe Lobozzo, will remain both a material shareholder and an advisor to the Company.  Bob Bicksler will assume the role of CEO, overseeing the continued organic growth of JML while also pursuing acquisition opportunities within the industry.  Gregg Sadwick, Mike McCusker, Valerie Maher, Gerry Lynch and other members of the management team will remain with the company in their current respective capacities, ensuring continuity in the delivery of quality custom optics solutions with the service and responsiveness that customers have come to expect.   

“Having founded JML almost 40 years ago, I have been focused on transitioning the company for its next phase of growth.  The recapitalization of the company allows me to accomplish this objective while also remaining a material shareholder,” said Mr. Lobozzo.  “We are extremely pleased to be associated with Bob Bicksler and BB&T Capital Partners.  This is an excellent match, as we share the same vision for building the company.”


“Joe and his team have been extremely successful in building an outstanding company.  They are widely recognized as one of the top providers of custom optical designs and solutions.  I look forward working with the JML team to build on their strong tradition,” commented Mr. Bicksler.

“We are delighted with our new investment  in JML, as well as our partnership with Joe Lobozzo and Bob Bicksler.  The company's commitment to customized optical solutions and customer service, and the outstanding people throughout its organization, have driven its success over the years.  We look forward to being involved in its continued growth,” said Chris Jones, Partner, BB&T Capital Partners.

“We are pleased to have arranged a transaction that will foster the continued growth and success of JML,” said Annemarie Schovee, Managing Director of M&T’s Investment Banking Group.
                                        
About JML Optical Industries Inc.

JML Optical Industries is a leading designer and manufacturer of custom precision optical components and systems serving customers across a wide variety of industries and end uses.  The company’s custom designs are augmented by its catalog, which offers a vast supply of stock lenses and designs.  JML primarily serves OEM manufacturers in the defense, medical diagnostic, life sciences, semiconductor, graphic arts, metrology and biometrics industries, as well as many others.  JML employs complimentary production processes, utilizing both domestic manufacturing and overseas procurement, enabling the company to provide the highest level of product quality and responsiveness to its customers.  Headquartered in Rochester, NY, JML has been a leading provider of quality custom optics for nearly 40 years. For more information, please visit JML’s website at www.jmloptical.com.


About BB&T Capital Partners

Based in Winston Salem, NC, BB&T Capital Partners manages approximately $750 million in committed capital and is focused on supporting growing companies in the middle market.  Since 1998, BB&T Capital Partners has invested in over thirty-five privately-held, middle market companies in a variety of industries, providing patient capital to facilitate buyout, acquisition, growth and recapitalization transactions.  For more information, please visit www.bbtcp.com.

About M&T Investment Banking Group

M&T Investment Banking Group specializes in advising management and owners of middle-market companies in mergers and acquisitions activity as well as raising private equity and mezzanine capital. M&T Investment Banking professionals bring a hands-on approach and decades of experience working, both domestically and internationally, with entrepreneurs, family-owned businesses, and divisions of larger companies. M&T Investment Banking Group is a division of M&T Bank N.A. For more information, please visit www.mtb.com.