UK-based investment trust Caledonia has bought 89 percent holding in film lenses manufacturer Cooke Optics Group Ltd for 96.5 million pounds ($127 million).

Caledonia said it subscribed $82.66 million of equity and $39 million of debt. Cooke's management team have reinvested $10.3 million of sales proceeds for the remaining equity.

A statement released by the company says that the current management team — Les Zellan (Chairman), Robert Howard (Chief Executive Officer) and Alan Merrills (Chief Operating Officer), — all remain in place and that day-to-day activities at the Leicester-based company will continue unchanged.

“We have been experiencing a sustained period of growth, and the time was right to look for a new investor to help us develop further,” said Zellan.