{{Short description|American optical equipment company}} {{Infobox company | name = Thorlabs | logo = File:Thorlabs logo.png | logo_size = | logo_alt = | logo_caption = | logo_padding = | image = | image_size = | image_alt = | image_caption = | type = | industry = Optical equipment | founded = {{start date and age|1989|11}} | founder = Alex Cable | hq_location = | hq_location_city = Newton, New Jersey | hq_location_country = | area_served = <!-- or: | areas_served = --> | key_people = | products = | brands = | services = | num_employees = 1,500<ref>{{Cite web|url=https://sites.nationalacademies.org/PGA/osaff/PGA_166302|title = Thorlabs}}</ref> | owner = Alex Cable | website = {{URL|https://www.thorlabs.com}} }} '''Thorlabs, Inc.''' is an American privately held optical equipment company headquartered in Newton, New Jersey.<ref>{{cite web|url=https://www.thorlabs.com/locations.cfm|title=Our Manufacturing Locations|website=thorlabs.com|language=en|access-date=2019-09-24}}</ref> The company was founded in 1989 by Alex Cable, who serves as its current CEO. His daughter, Jennifer Cable, serves as president.<ref>{{cite web|url=https://optics.org/press/5108|title=Jennifer Cable Named President of Thorlabs|website=optics.org|access-date=2024-04-30}}</ref> As of 2018, Thorlabs has annual sales of approximately $500 million.<ref>{{Cite web|url=https://www.njherald.com/20181016/thorlabs-founder-recalls-work-with-recent-nobel-prize-winner|title=Thorlabs founder recalls work with recent Nobel Prize winner|website=New Jersey Herald|language=en|access-date=2019-07-31}}</ref> Outside its multiple locations in the United States, the company has offices in Brazil, Canada, China, France, Germany, Japan, Sweden, and the United Kingdom.<ref>{{cite web|url=https://www.thorlabs.com/locations.cfm|title=Our Manufacturing Locations|website=thorlabs.com|language=en|access-date=2019-09-24}}</ref> It sells approximately 20,000 different products.<ref>{{cite web|url=https://www.thorlabs.com/about_us.cfm|title=A Message From Alex|website=thorlabs.com|language=en|access-date=2019-09-24}}</ref>
== History ==
While working at Bell Labs, Alex Cable bought a milling machine which he used to design and build optomechanical parts in his spare time. He was able to build up the business to the point where he could afford to quit Bell Labs and pursue it full-time in November 1989.<ref> {{cite web | title= European acquisitions fuel appetite for growth | website= optics.org | url= https://optics.org/article/19695 | access-date=2019-09-24 | language= en }} </ref> Cable thus founded Thorlabs, named after his black Labrador retriever, Thor, in a spare bedroom in Freehold, New Jersey.<ref> {{Cite news | title= From HS dropout to CEO of his own global company | website= Sparta Independent | url= http://www.spartaindependent.com/news/local-news/from-hs-dropout-to-ceo-of-his-own-global-company-KUSI20180703180709975 | archive-url= https://web.archive.org/web/20230101184739/https://www.spartaindependent.com/news/local-news/from-hs-dropout-to-ceo-of-his-own-global-company-KUSI20180703180709975 | url-status= dead | archive-date= January 1, 2023 | access-date= 2019-07-31 | language= en }}
</ref> Sales during the company's first year amounted to $370,000, according to Cable. Bell Labs was among its first customers.<ref> {{cite news | title= Thorlabs breaks ground in Newton | website= New Jersey Herald | url= https://www.njherald.com/news/20101004/thorlabs-breaks-ground-in-newton | access-date= 2019-09-24 | language= en }} </ref> According to company figures, sales topped $10 million for the first time in 1997.<ref> {{Cite news | title= Future bright for Thorlabs, Newton | website= New Jersey Herald | url= https://www.njherald.com/news/20190408/future-bright-for-thorlabs-newton | access-date=2019-09-24 | language= en }} </ref>
Before the telecom market collapsed in the early 2000s, such companies represented 45% of Thorlabs' business. Due to a liberal return policy, at least one quarter during the market crash, Thorlabs actually received more product from returns than it shipped. However, the company was able to quickly adapt and survived its worst year with only an 18% drop in overall revenue. In 2003 and 2004, Thorlabs began to expand its operations into Europe, acquiring companies based in Germany, Sweden, and the United Kingdom. The company had a product line of 9,000 and estimated annual sales of $50 million in 2004.<ref>{{cite web|url=https://optics.org/article/19695|title=European acquisitions fuel appetite for growth|website=optics.org|language=en|access-date=2019-09-24}}</ref>
In May 2007, Thorlabs won the Laser Focus World/Phast Innovation Award for the development of the ASOM (Adaptive Scanning Optical Microscope).<ref>{{cite web|url=https://www.eurekalert.org/pub_releases/2007-04/osoa-pal041707.php|title=PhAST and Laser Focus World select Thorlabs Inc. to receive Innovation Award|language=en|access-date=2019-09-24}}</ref>[[File:Beam splitter - Thorlabs logo (3794835939).jpg|thumb|left|A Thorlabs brand beam splitter]]
In March 2009, Thorlabs acquired optoelectronic components manufacturer Covega from Gemfire. Based in Jessup, Maryland, Covega was renamed Thorlabs Quantum Electronics (TQE) and its 40,000 sq. ft. space was expanded to 60,000 sq. ft. by 2014.<ref>{{cite web|url=https://www.photonics.com/Articles/Thorlabs_Acquires_Covega/a36838|title=Thorlabs Acquires Covega|website=www.photonics.com|language=en|access-date=2019-09-24}}</ref><ref>{{cite web|url=https://optics.org/news/5/10/44|title=Thorlabs expands QCL offering with Corning deal|website=optics.org|language=en|access-date=2019-09-24}}</ref> For the year, revenue reached $125 million and Thorlabs employed about 650 people at year's end.<ref>{{cite web|url=https://www.njherald.com/article/20101004/ARTICLE/310049961|archive-url=https://web.archive.org/web/20180318120542/http://www.njherald.com/article/20101004/ARTICLE/310049961|url-status=dead|archive-date=March 18, 2018|title=Thorlabs breaks ground in Newton {{!}} The New Jersey Herald|language=en|access-date=2019-09-24}}</ref>
In October 2010, Thorlabs broke ground on a new 125,000 sq ft headquarters in Newton. The $20 million project was funded in part by a $4 million bond grant for redeveloping a former brownfield, originally owned by the Sterling Silk Company and abandoned since 1993. Mayor Kristen Becker called the project "an integral piece" of city plans to revitalize the area.<ref>{{cite web|url=https://www.njherald.com/article/20101004/ARTICLE/310049961|archive-url=https://web.archive.org/web/20180318120542/http://www.njherald.com/article/20101004/ARTICLE/310049961|url-status=dead|archive-date=March 18, 2018|title=Thorlabs breaks ground in Newton {{!}} The New Jersey Herald|language=en|access-date=2019-09-24}}</ref> In March 2012, the 3-story office building officially opened, allowing the consolidation of Thorlabs's manufacturing, R&D, sales, and customer service operations.<ref>{{cite web|url=https://www.thorlabs.com/PressReleases.cfm?ReleaseID=62|title=Thorlabs Announces Completion of New Headquarters|website=thorlabs.com|language=en|access-date=2019-09-24}}</ref> Headquarters were moved from Andover Township, but the 40,000 sq. ft. facility there remained operational, functioning as the company's machine shop.<ref>{{cite web|url=https://www.thorlabs.com/PressReleases.cfm?ReleaseID=62|title=Thorlabs Announces Completion of New Headquarters|website=thorlabs.com|language=en|access-date=2019-09-24}}</ref> In 2019, Thorlabs began building new facilities in Newton, the UK, and Germany.<ref>{{Cite web|url=https://www.njherald.com/20190721/thorlabs-wants-to-get-moving-on-expansion-plans|title=Thorlabs wants to get moving on expansion plans|date=2019-07-21|website=New Jersey Herald|language=en|access-date=2019-07-31}}</ref>
In October 2011, Thorlabs purchased the Burleigh line of life science products from Lumen Dynamics.<ref>{{cite web|url=https://www.thorlabs.com/PressReleases.cfm?ReleaseID=60|title=Thorlabs Expands Life Science Offerings with Burleigh® Acquisition|website=thorlabs.com|language=en|access-date=2019-09-24}}</ref> In May 2012, Thorlabs acquired the Octavius line of ultrafast lasers from idesta Quantum Electronics, a member of its Strategic Partnership Program.<ref>{{cite web|url=https://www.thorlabs.com/PressReleases.cfm?ReleaseID=63|title=Thorlabs Announces Acquisition of Femtosecond Laser Product Line from idesta QE|website=thorlabs.com|language=en|access-date=2019-09-24}}</ref> In November, Thorlabs acquired laser supplier Maxion Technologies from Physical Sciences Inc. for an undisclosed amount. Maxion's quantum cascade laser and interband cascade laser lines were integrated into Thorlabs's TQE facility.<ref>{{cite web|url=https://www.thorlabs.com/PressReleases.cfm?ReleaseID=69|title=Thorlabs Adds MIR Laser Capabilities to its Portfolio|website=thorlabs.com|language=en|access-date=2019-09-24}}</ref>
In January 2013, Thorlabs purchased the iGuide optical fiber product line from IRphotonics, relocating production from Montreal to company headquarters in Newton. In a statement, the company said the Maxion and iGuide purchases were part of an effort "to become a vertical manufacturer" in the infrared equipment market.<ref>{{cite web|url=https://www.thorlabs.com/PressReleases.cfm?ReleaseID=70|title=Thorlabs Adds Additional MIR Capabilities to its Portfolio|website=thorlabs.com|language=en|access-date=2019-09-24}}</ref> In June, the company acquired scientific digital imaging company Digital Video Camera (DVC). DVC remained in Austin, Texas, operating under the name Thorlabs Scientific Imaging.<ref>{{cite web|url=https://www.thorlabs.com/PressReleases.cfm?ReleaseID=71|title=Thorlabs Adds Scientific Camera Capabilities to its Portfolio|website=thorlabs.com|language=en|access-date=2019-09-24}}</ref> In October, Thorlabs acquired cytometry manufacturer CompuCyte, relocating the Westwood, Massachusetts company's operations to Sterling, Virginia.<ref>{{cite web|url=https://www.thorlabs.com/PressReleases.cfm?ReleaseID=74|title=Thorlabs Adds Quantitative Imaging Cytometry Capabilities to its Portfolio|website=thorlabs.com|language=en|access-date=2019-09-24}}</ref>
In March 2014, Thorlabs expanded into optoelectronics, opening a new facility in Ann Arbor, Michigan.<ref>{{cite web|url=https://www.thorlabs.com/PressReleases.cfm?ReleaseID=78|title=Thorlabs Enters High-Speed Optoelectronics Market|website=thorlabs.com|language=en|access-date=2019-09-24}}</ref> In May, it expanded operations into Canada with a new research and development and manufacturing facility in Montreal. The new subsidiary operates under the name Thorlabs Canada ULC in partnership with École Polytechnique de Montréal and the University of Montreal to serve as another manufacturing facility of Thorlabs products.<ref>{{cite web|url=https://www.thorlabs.com/PressReleases.cfm?ReleaseID=79|title=Thorlabs Expands Global Operation to Montreal, Canada|website=thorlabs.com|language=en|access-date=2019-09-24}}</ref> In 2014, Thorlabs acquired Corning Inc.'s line of quantum cascade lasers and entered into a partnership with Daylight Solutions to produce the laser for defense and security applications.<ref>{{cite web|url=https://optics.org/news/5/10/44|title=Thorlabs expands QCL offering with Corning deal|website=optics.org|language=en|access-date=2019-09-24}}</ref> In 2015, Thorlabs acquired Pantec's line of Elliptec product line.<ref>{{cite web|url=https://www.thorlabs.com/PressReleases.cfm?ReleaseID=84|title=Thorlabs - Your Source for Fiber Optics, Laser Diodes, Optical Instrumentation and Polarization Measurement & Control.|website=www.thorlabs.com|access-date=2019-07-31}}</ref> In 2018, Thorlabs acquired Norland Products' line of fiber optic products.<ref>{{cite web|url=https://www.thorlabs.com/PressReleases.cfm?ReleaseID=100|title=Thorlabs - Your Source for Fiber Optics, Laser Diodes, Optical Instrumentation and Polarization Measurement & Control.|website=www.thorlabs.com|access-date=2019-07-31}}</ref> From 2015 to present, Thorlabs has acquired the following companies: Vytran, Cirtemo, Coda Devices, OPTEK, KMLabs, and Crystalline Mirror Solutions.<ref>{{Cite web|url=https://www.thorlabs.com/PressReleases.cfm|title=Thorlabs - Your Source for Fiber Optics, Laser Diodes, Optical Instrumentation and Polarization Measurement & Control.|website=www.thorlabs.com|access-date=2019-12-20}}</ref>
==Business model== Thorlabs designs and manufactures products in the areas of fiber optics, lasers, optical instrumentation, optomechanics, photonics, and vibration isolation.<ref>{{cite web|url=https://www.thorlabs.com/navigation.cfm|title=Product Catalog|website=thorlabs.com|access-date=2019-09-24}}</ref> Approximately 90% of its products are manufactured in-house. "I see much greater value in a business that designs, manufactures and distributes, rather than a pure distribution model", Cable explained. "[Controlling the design process] allows us to be an agile competitor on price and also on innovating the product."<ref>{{cite web|url=https://optics.org/article/19695|title=European acquisitions fuel appetite for growth|website=optics.org|language=en|access-date=2019-09-24}}</ref> Roughly 30% of the products were created in response to, or inspired by, customer requests.<ref>{{cite web|url=https://www.njherald.com/article/20101004/ARTICLE/310049961|archive-url=https://web.archive.org/web/20180318120542/http://www.njherald.com/article/20101004/ARTICLE/310049961|url-status=dead|archive-date=March 18, 2018|title=Thorlabs breaks ground in Newton {{!}} The New Jersey Herald|language=en|access-date=2019-09-24}}</ref> Although products used to be sold primarily through a print catalog,<ref>{{cite web|url=https://optics.org/article/19695|title=European acquisitions fuel appetite for growth|website=optics.org|language=en|access-date=2019-09-24}}</ref> Thorlabs now emphasizes selling catalog products and communicating with customers through its website.
According to Cable, his time spent working as an engineer and being "a customer of all of [his] major competitors" gave him an intimate understanding of the market that has led to his success.<ref>{{cite web|url=https://optics.org/article/19695|title=European acquisitions fuel appetite for growth|website=optics.org|language=en|access-date=2019-09-24}}</ref> Thorlabs puts a strong emphasis on customer service, aiming to ship products the same day orders are received. Cable has declined to move manufacturing to China or another cheap market in order to maintain the quick delivery schedule, and also because labor is not a significant portion of Thorlabs' costs. The company is privately held, but Cable has said he is not against the possibility of a future initial public offering.<ref>{{cite web|url=https://optics.org/article/19695|title=European acquisitions fuel appetite for growth|website=optics.org|language=en|access-date=2019-09-24}}</ref>
Thorlabs operates a Strategic Partnership Program which supports start-up manufacturers through shared knowledge and resources in exchange for an equity stake in the new company. Additionally, the program helps Thorlabs stay on top of market trends as emerging technologies account for roughly 25% of its annual revenue.<ref>{{cite web|url=https://optics.org/article/19695|title=European acquisitions fuel appetite for growth|website=optics.org|language=en|access-date=2019-09-24}}</ref>
==Further reading== * {{cite news | newspaper=New Jersey Herald | date=November 8, 2014 | title=Thorlabs makes plans for latest Newton properties| url=http://www.njherald.com/story/27335506/2014/11/08/thorlabs-makes-plans-for-latest-newton-properties | accessdate=February 23, 2015}}{{subscription required}}
==References== {{Reflist}}
==External links== * {{Official website|https://www.thorlabs.com/}}
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Category:Photonics companies Category:Companies based in Sussex County, New Jersey Category:1989 establishments in New Jersey Category:American companies established in 1989