Every year, big companies buy their smaller competitors; it’s the way of the world. In fact, some small companies actively seek larger owners. But that is not the case for 30-year-old Wyatt Technology, a quirky family-owned maker of particle analysis instruments in Santa Barbara, Calif., that vows to stay independent. Wyatt is a maker of instruments for laser light scattering, which is a technique that harnesses lasers and photon detectors and is used by researchers in areas as diverse as polymer design, cement quality control, and drug development. The firm leads the $250 million light-scattering instruments market, logging annual growth rates in the high single-digit percentages, estimates Michael Tice, vice president of instrumentation consulting firm Strategic Directions International. Its competitors, generally larger instrument companies, have been growing at about 5%, Tice says. Wyatt, which claims its scientists were the first to incorporate lasers into commercial light-scattering instruments, doe...
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