Thu, 28 Aug 2025 | ADMINISTRATION
Administrators are seeking a buyer for the business and assets, including "highly specialised" intellectual property, of a Glasgow-based photonics and quantum technology business following its collapse. Founded in 2006, M Squared Lasers Limited had built an international reputation and customer base with its award-winning laser platforms and quantum technologies.
The company supplied customers across the UK, Europe, Asia and the US, with its products being used by scientists, universities and commercial organisations for research in fields ranging from physics to life sciences.
However, it had been badly affected by global headwinds over recent years, including the aftermath of the COVID-19 pandemic and major disruption to supply chains and component availability as a result of the war in Ukraine. These issues were exacerbated by a slowdown in orders from key customers and intensifying competition for skilled staff, resulting in the firm being in a perilous financial position.
In accounts for the year to February 28 2023, the company reported turnover of £17.8 million, up slightly from £17.3 million a year earlier, but saw its pre-tax profits fall from £2.5 million to around £1.8 million.
Despite the board undertaking efforts to secure new investment and turn the company around, attempts to attract funding were unsuccessful. It has now ceased trading, with Interpath Advisory Managing Directors Alistair McAlinden and Geoff Jacobs appointed as joint administrators.
The joint administrators are now seeking a buyer for M Squared Lasers’ assets, which include a suite of intellectual property, work-in-progress, customer relationships and stock.
Geoff Jacobs described the company as “a groundbreaking and award-winning technology business, which has served scientists, universities and a wide-range of private sector customers for 20 years.”
He continued: “Amongst other significant and innovative achievements, the company has created a laser platform which is scalable, compact and robust, and which is contributing to studies in quantum technologies around the world.”
Jacobs added that the joint administrators were “rapidly exploring options to sell the business and its prized assets, including the company’s highly specialised intellectual property, and encourage any interested parties to contact us quickly.”
In the company’s latest accounts, its fixed assets were valued at £11.3 million and current assets at £15.5 million, with net assets standing at £4.8 million.
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