NexStar Resource Site

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New Ownership at Celestron

In May 2002, Tasco, the parent company of Celestron International, defaulted on its business loans and entered into an assignment of assets for the benefit of creditors.   That meant Celestron was up for sale.  Meade had tried earlier to purchase Celestron from Tasco, and in anticipation, the Federal Trade Commission filed an injunction to prevent Meade from another attempt.  Shortly after the news of Tasco's liquidation, senior management at Celestron put together a proposal to purchase and privatize the company.  On June 28th, they were successful.  The new company is now in the hands of passionate amateur astronomers who have been making the decisions that brought the NexStar line to market.


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Michael Swanson
 
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