Meade Instruments Sells European Operations

Irvine-based Meade Instruments, a manufacturer of telescopes and other optical products, said Thursday that it has soled its European subsidiary to a buyout group for $12.4M. Meade said that the European unit distributes the company's products, and also sells products under the Bresser brand name. The firm said the move was part of an effort to look at strategic alternatives to secure liquidity for the firm. Meade also said that the European buyout group, Bresser GmbH, would continue to purchase products for the company and distribute its products throughout Europe.