Tech Track 100

This Glasgow-based company designs and manufactures lasers and photonic instruments, whose diverse applications include remote sensing, metrology and medical diagnostics. Its customers are blue-chip companies and some of world’s leading research institutes, including MIT and Harvard. The company was founded in 2006 by Graeme Malcolm, 45, and Gareth Maker, 49, serial entrepreneurs who had previously spun out opto-electronics firm Microlase from Strathclyde University before selling it to Nasdaq listed Coherent for £2m in 1999. M Squared Lasers is backed by Business Growth Fund, which invested £3.85m in 2012 for a minority stake. Turnover climbed to £5m in 2014, a 59% increase on 2013, and is forecast to increase by a further 47% in 2015.

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Company details
CompanyM Squared
ActivityLaser designer & manufacturer
Latest sales £000s5,010

If applicable:

* Sales and forecast sales provided by the companies
† Net sales