M&A Deal Summary

Mereo Capital Partners and Point Lookout Capital Partners Acquire Luna Labs USA

On March 14, 2022, private equity firms Mereo Capital Partners and Point Lookout Capital Partners acquired chemicals company Luna Labs USA from Luna for 21M USD

Acquisition Highlights
  • This is Mereo Capital Partners’ 1st and Point Lookout Capital Partners’ 1st transaction in the Chemicals sector.
  • This is Mereo Capital Partners’ and Point Lookout Capital Partners’ largest (disclosed) transaction.
  • This is Mereo Capital Partners’ 2nd and Point Lookout Capital Partners’ 4th transaction in the United States.
  • This is Mereo Capital Partners’ 1st and Point Lookout Capital Partners’ 1st transaction in Virginia.

M&A Deal Summary
Date 2022-03-14
Target Luna Labs USA
Sector Chemicals
Buyer(s) Mereo Capital Partners
Point Lookout Capital Partners
Sellers(s) Luna
Deal Type Divestiture
Deal Value 21M USD

Target

Luna Labs USA

Charlottesville, Virginia, United States
website
Luna Labs USA is a technology resource for aerospace, energy, automotive, health sciences, first responders, telecommunications, and defense. Luna Labs USA is based in Charlottesville, Virginia.

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Buyer(S) 2

Buyer

Mereo Capital Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2020
Size Small
Type Sector Agnostic
DESCRIPTION

Mereo Capital Partners is a private equity firm focused on lower-middle market companies in the US. Mereo Capital makes controlled or structured minority equity investments of $10 to $30 million per transaction. The Firm targets companies with a minimum EBITDA of $3 million and at least $15 million of revenue. Prospective businesses are typically founder or family owned, have opportunities for improved operational performance, and recurring revenue business models. Sectors of interest include business and industrial services, healthcare services, industrial technology, aerospace, and defense. Mereo Capital Partners was established in 2020 and is based in Conshohocken, Pennsylvania.

DEAL STATS #
Overall 2 of 3
Sector (Chemicals) 1 of 1
Type (Divestiture) 1 of 1
State (Virginia) 1 of 1
Country (United States) 2 of 3
Year (2022) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-04 Swish Dental

Austin, Texas, United States

Swish Dental is a dental service organization in Austin. Swish operates 12 clinics in the Greater Austin region. Swish Dental is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-28 Algus

Dekalb, Illinois, United States

Algus is a provider of thermoformed blister and clamshell packaging and a manufacturer of blister seal machines. It provides complete packaging solutions to a blue-chip roster of customers across a variety of end markets. Algus was formed in 1995 and is based in Dekalb, Illinois.

Buy -
Buyer

Point Lookout Capital Partners

New York, New York, United States

website

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Point Lookout Capital Partners is a private investment firm focused on control investments in US based businesses. The firm prefers investment situations where current management or owners desire to stay with the business. Point Lookout targets companies with cash flow of $2 to $10 million and generally invests $5 to $15 million of equity capital per transaction - although the firm will consider select investments requiring less than $5 million of capital. Sectors of interest include defense, media, consumer products and manufacturing. Point Lookout Capital Partners is based in New York City.

DEAL STATS #
Overall 4 of 4
Sector (Chemicals) 1 of 1
Type (Divestiture) 1 of 1
State (Virginia) 1 of 1
Country (United States) 4 of 4
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-02-25 Penn Arms

Jamestown, Pennsylvania, United States

Penn Arms, Inc. is a developer and manufacturer of various caliber firearms for law enforcement and military applications. Penn Arms specializes in single and multi-shot launchers capable of rapidly deploying various types of ammunition used in riot suppression and other crowd control operations. Penn Arms was founded in 1989 and is based in Jamestown, Pennsylvania.

Sell -

Seller(S) 1

SELLER

Luna

Roanoke, Virginia, United States

website

Category Company
Founded 1990
Sector Test/Measurement Equipment
Employees385
Revenue 83M USD (2020)
DESCRIPTION

Luna is an optical technology, providing unique capabilities in high speed optoelectronics and high performance fiber optic test products for the telecommunications industry and distributed fiber optic sensing for the aerospace and automotive industries. Luna was founded in 1990 and is based in Roanoke, Virginia.

DEAL STATS #
Overall 2 of 2
Sector (Chemicals) 1 of 1
Type (Divestiture) 2 of 2
State (Virginia) 2 of 2
Country (United States) 2 of 2
Year (2022) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-14 LIOS Sensing

Cologne, Germany

LIOS Sensing is a distributor of fiber optic monitoring solutions for power cable, pipelines, oilfield services, security, highways, railways, and industrial fire detection systems. LIOS Sensing was formed in 2000 and is based in Cologne, Germany.

Buy €20M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-21 Silixa

Hertfordshire, United Kingdom

Silixa is an independent provider of distributed fiber optic sensing solutions, offering an unrivalled technical portfolio of end-to-end solutions that enable temperature, strain and acoustic measurements at the highest fidelity in even the most hostile settings. Silixa is based in Hertfordshire, United Kingdom.

Buy $22M
Mergr

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