FOR IMMEDIATE RELEASE // SEATTLE, WASHINGTON – Meridian Capital LLC is pleased to announce the acquisition of its client Apollo Video Technology, LLC by Luminator Technology Group, a portfolio company of Audax Private Equity. Meridian served as the financial advisor to Apollo and its shareholders in the transaction with Audax.
Huntington Capital Investment Company funded the financing. The recapitalization provides the Company with fresh capital to support the growth objectives and strategic initiative of management and the financial sponsor group.
ABOUT APOLLO VIDEO TECHNOLOGY
Apollo, established in 2004 by Rodell Notbohm and Ying Chang with headquarters in Bothell, Washington, is a leading manufacturer of integrated video surveillance, fleet, and information management solutions. The Company provides its solutions for public transit, rail, school transportation, law enforcement, military, commercial transportation, fire and EMS applications. With public and private-sector installations throughout North America and worldwide, Apollo’s mobile video and audio recording system provides exceptional video quality with management software optimized for wireless downloading and live video streaming. Since 2004, the Company has supplied its system to over 400 agencies worldwide, representing more than 30,000 implementations.
Luminator, founded in 1928 and headquartered in Plano, Texas, is a group of companies that manufacture and integrate passenger information, lighting, and display solutions for the bus, rail, and aerospace markets worldwide. With sales, manufacturing, and engineering capabilities on four continents, Luminator has built an impressive family of brands including: Axion, Lawo, BMG|IMS, Luminator, Focon, Mobitec, Gorba, and VSN Networks. Apollo will be integrated into Luminator’s mass transit division and will remain operating under the Apollo brand. Audax acquired Luminator from Leichtman Capital Partners in 2014, and has supported Luminator in its promise to provide innovative solutions that meet the demands of the diverse global transportation industry.
Regarding the transaction, Rodell stated:
“Meridian Capital, with its experience and deep knowledge of our industry and the private equity universe, not only helped us find the ideal cultural and strategic fit in Audax/Luminator, it also provided a highly customized solution to meet all of the deal term goals and objectives that were important to us.”
“I am thrilled that our team could assist Rodell and his team in achieving their strategic and financial objectives. The combination of Luminator and Apollo establishes the leading provider of integrated technology solutions for transit agencies, military and airline customers worldwide.”
Brian Murphy, President & Managing Director