Glasgow-based technology company M Squared Lasers has entered administration after nearly two decades in business.
Founded in 2006 by serial entrepreneur Graeme Malcolm OBE, the photonics and quantum technology firm built an international reputation for its award-winning laser platforms and quantum technologies, supplying customers across the UK, Europe, the US and Asia. Its products have been used by scientists, universities and commercial partners in fields ranging from fundamental physics to life sciences.
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The company was recognised in Deloitte’s Fast 50 in 2013, reflecting a period of rapid growth, but has been hit hard in recent years by global headwinds. The aftermath of the pandemic and the war in Ukraine disrupted supply chains and component availability, while competition for skilled staff and a slowdown in orders from key customers compounded its difficulties.
Despite attempts by the board to secure fresh investment and turn the business around, efforts to raise funding were unsuccessful. The business has now ceased trading, with 28 employees made redundant.
Alistair McAlinden and Geoff Jacobs, managing directors at Interpath, have been appointed as joint administrators and are now seeking a buyer for the company’s assets, which include intellectual property, customer relationships, stock and ongoing work-in-progress.
“M Squared is a groundbreaking and award-winning technology business, which has served scientists, universities and a wide-range of private sector customers for 20 years,” said Jacobs. “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.
“We are now 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.”
