Southampton-based SPI Lasers (www.spilasers.com), which designs and manufactures fibre lasers, has purchased its 8.1-acre manufacturing site in Rugby from its landlord (in a deal worth £10.3 million).

This will result in the company increasing its manufacturing footprint in Rugby by around 100% — to about 80,000ft².

CEO Mark Greenwood said: “This is great news for SPI, as it gives us the freedom to continue to grow and develop our product lines, ensuring that we remain committed to providing the highest-quality products and service.

“As leaders in the field of fibre laser manufacturing and innovation, it is important that we have the space to grow, and acquiring the facility means we can do just that.”

Over the coming months, the newly acquired site will be the subject of a multi-million-pound refurbishment, with the express intention of using the additional space to accelerate SPI’s vertical integration programmes and to further optimise its manufacturing and production processes.

This announcement follows growth at SPI’s Southampton base and an increased presence in China and the USA.