Criteria Labs Has Been Acquired by Dover
25.09.2024
HOUSTON, TEXAS (September 25, 2024) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce the sale of Criteria Labs, Inc. (“Criteria Labs” and/or the “Company”) to Dover Corporation (“Dover”) where it will become part of the Microwave Products Group (“MPG”). Statesman served as the exclusive financial advisor to Criteria Labs on this transaction, which closed on August 9, 2024.
Criteria Labs is a leader in radio frequency “RF” device and microelectronic engineering solutions tailored for high-reliability applications in the space, aerospace, defense, commercial semiconductor, automotive, and medical industries. The company’s primary location in Austin, Texas, includes a large clean room dedicated to space test engineering, assembly, and packaging, and its Penrose, Colorado, facility specializes in electronic component tape and reel packaging services.
“There are fantastic synergies between Criteria Labs and MPG that will address advanced RF Size, Weight, and Power (SWaP) solutions for space and defense applications,” said Douglas Myron, President and CEO of Criteria Labs. “I am extremely happy with the outcome of the transaction and want to thank all of the Statesman team members that assisted with this acquisition,” Myron added.
David Sargent noted, “I joined the board of Mytech, a lighting controls company, in 1996 and watched Doug build the company that led to a successful sale to Hubbell, a NYSE company in 2001. In 2005, we introduced Doug to criteria labs where he totally changed the business from a test business to a leader in “RF”. Doug is a serial entrepreneur and one of the hardest working founders we have ever worked with. We appreciate Doug’s relationship banking approach and hiring us the assist with the Dover transaction.”
About the other transaction participants
Statesman Corporate Finance, LLC (Houston & Austin, TX) is the FINRA-licensed broker-dealer affiliate of Statesman Business Advisors, LLC. With offices in Houston and Austin, Texas, Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation, and other general corporate financial advisory services to middle-market companies. The Statesman team advising on this engagement included Senior Advisor David Sargent and Vice Presidents Sarah Wilson and Philip Rodriguez.
BoyarMiller (Houston, TX) provided legal counsel to Criteria Labs led by Founding Shareholder Gary Miller, Shareholder Travis Johnson, and Associate Mary Pilson.
