Photonics specialist Nynomic defies all odds and continues to rev up mightily

presented. According to preliminary figures, the 2021 financial year shone even brighter and the forecasts, which had been raised twice during the year, were again exceeded in the end. Group-wide sales amounted to €105.2 million, 34% above the 2020 figure of €78.6 million. EBIT was around €13 million, exceeding the 2020 figure of €8.0 million by 63%, so that the EBIT margin increased accordingly from 10% to 12%. Nynomic also posted another record figure for its order backlog: At the end of 2021, orders with a volume of €73.5 million were on the books (Dec. 31, 2020: €72.6 million).

But there’s much more to Nynomic than bare numbers. It’s a pie-in-the-sky equity story that’s actually still in its infancy….

Nynomic is a leading full-service provider in the field of non-contact optical measurement technology. For several years, the company has been set up as an investment holding company and is active through its eight internationally positioned subsidiaries. Through these, it has access to the most important sales markets, benefits from local customer support and a well-developed sales and logistics network.

As a systems provider, the company serves a large number of original equipment manufacturers (OEMs) in various end markets along the entire value chain, from individual components to complete devices. Thanks to its successfully implemented buy-and-build strategy in recent years, Nynomic’s diversified product portfolio enables it to serve numerous fields of application in both the B2B and emerging B2C sectors, such as around the “smart home” megatrend. The measurement technology is used, for example, in medical technology, the chemical industry, pharmaceuticals, agriculture, environmental technology, the semiconductor industry and a wide range of applications in the entire industrial sector.

Nynomic AG was founded in 1995 as m-u-t GmbH Meßgeräte für Medizin- und Umwelttechnik and is based in the Rolandstadt Wedel near Hamburg. The company’s origins lie in the system integration of spectroscopy in medicine and biotechnology. In July 2007, the company was listed on the German Stock Exchange and a number of form acquisitions were made. In 2014, the operational business of m-u-t AG was outsourced to m-u-t GmbH, turning m-u-t AG into a purely strategic financial holding company. This led to confusion between AG and GmbH in the external presentation, so that in 2018 the holding company m-u-t-AG was renamed Nynomic AG.

Focus on Life Science, Green Tech and Clean Tech

Nynomic is a manufacturer of products for permanent, non-contact and non-destructive optical measurement technology. The smart photonics solutions are built on a technology platform based on spectral sensor technology. They can be scaled into different application areas and represent high efficiency increases and high customer benefits due to their good adaptability to the customer’s processes.

To this end, the company is using the technology shift based on miniaturization as the basis for above-average growth in the medium term compared with the market. The company is increasingly focusing on cyclically robust independent markets as a full-range supplier in the Life Science, Green Tech and Clean Tech segments.

Nynomic AG has e

in a clear marketing concept as a system supplier from components to equipment. It is globally positioned with independent brands and subsidiaries. As part of the implementation of the buy-and-build strategy, it is planning disproportionately high growth and increasing synergy effects to boost profitability in the Group.

Life Science

The segment accounted for 23% of the Group’s total sales in 2020. The products in this segment are primarily used in the pharmaceutical industry, medical technology and biotechnology. Optical sensors, spectroscopy systems and automation solutions for laboratories and research facilities form the core product group and address a wide range of application areas. Patent and licensing rights in the field of analysis technology will open up future potential, for example in the field of research.

Green Tech

GreenTech contributed 16% of Group sales in 2020. Especially for applications in the field of “intelligent farming” and environmental technology, Nynomic develops and produces individual solutions for agriculture in this segment. Increasingly industrialized and automated agriculture is optimally aligned through efficiency-enhancing processes such as sensor-based analysis of soils and plants, automatic fertilizer application, and remote-controlled animal feeding.

In addition, the use of spectroscopic sensors can help producers meet regulatory quality requirements. The use of solar modules is also subsumed under this segment.

Since the beginning of the year, the shredding of male chicks has been prohibited. With Nynomic’s fully automated spectroscopy-based solution, the sex of chicken chicks can be determined at a very early stage already in the egg, so that female eggs for egg production can be separated from male eggs at an early stage.

This is a prime example of the use of Nynomic’s measurement technology. Here, unlike classical techniques, the properties of objects are analyzed rather than mere geometry. Attributes such as color, temperature, density or chemical composition can be measured in a non-contact and non-destructive manner. The measurement systems are marketed both via independent brands and via white label products.



By far the largest segment is Clean Tech; it contributed a whopping 61% of Group sales in 2020. This segment covers a wide range of solutions for the industrial sector. The broadly diversified application fields range from individual optical sensors to customer-specific complete solutions. Target markets include the chemical industry, food applications and semiconductors. Automated inspection of production processes can also make wafer and display production more efficient and ensure a higher quality standard.


All product solutions of the Nynomic Group are based on a technology platform of spectral sensor technology. This measurement technology enables non-destructive and non-contact analysis of product characteristics by measuring the wavelength reflected from an object. Using a coupled database, these values can be specified and the element uniquely assigned.

The process

is universally applicable and can be easily integrated into various customer process chains. Based on all common spectroscopy processes, application solutions can be designed for a wide range of end markets and applications.

Thanks to Nynomic’s vertical integration, it is possible to choose between standard products as well as highly specific complete systems that can be used within the production process to increase efficiency.

Furthermore, Nynomic accompanies its customers along the entire value chain in various end markets. As a result, the company has already gained extensive experience in a wide range of industries and has strong solution expertise in the field of process-integrated online measurement technology.

Involved in the process already at the early stage of product development, the end user benefits from Nynomics’ technology and know-how leadership. Close customer relationships developed from this often result not only in long-term contracts, but also in exclusive supplier status.

Markets and sales

Nynomic’s subsidiaries and sales network result in a highly pronounced international distribution of sales. In addition to the production facilities, which are mainly located in Europe, a large number of subsidiaries and sales offices exist on other continents, enabling local and direct customer support.

In 2020, the Group generated around 61% of its sales in Europe. Nynomic generated the remaining share primarily in the U.S., which as an important core market accounted for approximately 26% of sales in 2020, and in Asia with a 13% share.

Nynomic accompanies its customers along the entire value chain and offers different manufacturing depths and individual product modifications through its subsidiaries. Nynomic AG acts as the overarching financial holding company and performs strategic functions within the Group. All subsidiaries have a similar technological focus and support vertical integration.

Avantes Holding B.V.

Avantes Holding B.V., integrated in 2008, forms the basis for optical measuring cells and spectrometers. Specializing in the miniaturization of spectroscopy equipment and software solutions, the company develops and manufactures spectrometers, light sources for UV/VIS/NIR, fiber optics and accessories. In addition, the group performs customization of equipment. Through its own subsidiaries, the Avantes Group has access to all major markets and enables local customer support for OEMs. Products of the company can be found, for example, in the biotechnology, chemical and food industries as well as in thin-film analysis in the field of solar cell production. tec5


tec5 AG has been part of the Nynomic Group since 2007 and manufactures high-quality products for detector array spectroscopy of OEM components as well as drive electronics. Furthermore, the company serves the next step of value creation and combines, among others, individual components of Avantes B.V. to complete systems. These are sold directly to OEMs and industrial customers as standard solutions under the company’s own name. Here, too, there is access to the most important international end markets through subsidiaries.

m-u-t GmbH

The operativelye subsidiary m-u-t GmbH is the nucleus of the company. It manufactures products for permanent, non-contact and non-destructive optical measurement technology. Based on the products of other Group units, m-u-t GmbH modifies them with its own know-how to create innovative applications. The resulting customized solutions are subsequently produced and marketed, for example as series devices. The company has a wide range of products, including sensors, laboratory automation, medical technology and spectroscopy.


Through APOS GmbH, Nynomic offers spectroscopic measurement systems specifically for the wood processing industry. APOS is technology and know-how leader in this niche market and focuses on applications with high scalability. Typical fields of application are in the wood-based materials industry, biomass power plants and other bulk material applications.

LayTec AG

The globally operating LayTec AG is a market-leading supplier of process-integrated measurement technology with a focus on laser and LED production. Since the acquisition of the company in 2017, the company’s specific solutions are also increasingly used in the fields of photovoltaics, surface coating and in the semiconductor industry. For example, products can be used for in-situ process control of light-emitting diodes and semiconductor lasers. In addition, as optical in-line metrology, they enable real-time analysis of manufacturing processes in the solar cell industry. Another LayTec product, a measurement system for VCSEL lasers (Vertical-CavitySurface-Emitting Laser), is used for example in smartphones for Face ID technology. Spectral Engines


Spectral Engines GmbH develops and produces extremely compact spectral sensors on a low cost basis, which can be used in industrial applications as well as in the consumer sector. Through this acquisition, Nynomic laid the foundation for its entry into the end-user device market for the B2C segment. Spectral Engines’ products can be deployed cost-effectively in mobile devices and are thus primarily targeted at applications in the smart home, smart industry or smart agriculture sectors. A fast and at the same time reliable measurement is guaranteed with the help of a patented MEMS interferometer and is already used, for example, as a food scanner via smartphone. PerApp and associated cloud-based software, data reconciliation takes place in real time, which is continuously optimized by machine learning.

Following the majority acquisition of 75% in May 2018, Nynomic acquired the remaining shares in the company at the end of May 2020. In the same year, a partial transfer of business operations from Finland to Germany and the incorporation of Spectral Engines Oy into Spectral Engines GmbH took place.

LemnaTec GmbH

LemnaTec GmbH is a specialist for hardware and software systems in the field of digital plant phenotyping. Thanks to complex sensor technology, the company’s solutions enable the contactless analysis of plants, with the help of which essential growth and quality characteristics (including size, shape and color as features for shoot and root growth) can be determined as well as physiological parameters (including water and nutrient content of the leaves or phytochemistry).tosynthesis). In modern industrial agriculture, such analyses provide fundamental indicators for breeding and optimizing seeds and crops, which means that the areas of application range from agrochemistry to agricultural and plant research to practical breeding and include small-scale applications in the laboratory as well as large-scale installations for greenhouses and open-air plants.

Sensortherm GmbH

Sensortherm GmbH is a specialist in the field of infrared measurement technology and offers numerous applications of non-contact, precise and fast temperature determination. With more than 30 years of experience, the company is one of the industry-wide technology leaders in this market. In particular, the pyrometers developed by Sensortherm are among the world’s most powerful measuring instruments of their kind, thanks to their ability to process and output signals completely digitally. The pyrometers are sometimes required for monitoring and controlling the process temperature in laser systems and are thus of central importance in the steel industry, for example, in order to enable the best possible product quality by preventing temperature deviations.

Image Engineering GmbH & Co. KG

Image Engineering GmbH & Co. KG has been part of the Nynomic Group since 2021. The company is one of the world’s leading manufacturers of image quality testing equipment. With its test charts, analysis software, and measurement and illumination equipment, Image Engineering offers its customers the ability to test and evaluate the image quality of their cameras, which is especially important in applications with high image quality requirements.

Customers come from (product) areas including photography, cell phones, automotive and ADAS systems, security, broadcast, machine vision, medical/endoscopy, and scanners and archiving.

MGG Micro-Glühlampen-Gesellschaft Menzel GmbH

MGG Micro-Glühlampen-Gesellschaft Menzel GmbH is a specialist for high-precision miniature incandescent lamps. With its manufacturing program, the company offers more than 5,000 different lamp types as standardized catalog goods. In addition, the company develops and manufactures light throw, lens and special lamps for customer-specific requirements. The most common applications include infrared technology, electrical engineering, aerospace, medical technology, telecommunications, machine tool control and defense electronics, as well as optical metrology and spectroscopy.

Successful buy-and-build strategy

The many acquisitions and subsequent…

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