Houlihan Lokey Advises EOTECH on Its Acquisition of Intevac Photonics

Houlihan Lokey is pleased to announce that EOTECH, LLC, a portfolio company of Koucar Management, has acquired the Photonics division of Intevac. The transaction closed on December 30, 2021.

EOTECH is the global, leading manufacturer of cutting-edge, mission-critical holographic sighting systems, magnified field optics, and accessories. The company designs and manufactures products for military, hunting, and recreational shooting applications. Houlihan Lokey previously served as the exclusive financial advisor to L3Harris Technologies in its sale of EOTECH to Koucar Management in March 2020. Since acquiring EOTECH, Koucar Management has made significant investments to deepen EOTECH’s product portfolio, diversify its customer mix, and expand its end markets in pursuit of strategic growth.

Intevac’s Photonics division has long been recognized as a leading developer and provider of advanced high-sensitivity digital sensors, cameras, and systems that primarily serves the defense industry. The company has provided integrated imaging systems for most U.S. military digital night vision programs, including the U.S. Army’s Integrated Visual Augmentation System (IVAS).

Koucar Management is a Michigan-based family office that seeks to acquire, recapitalize, and support the long-term growth of small to medium-sized businesses across a range of industry sectors. Koucar’s strategic investment in EOTECH represents a strong foundation of cutting-edge optical science and weapons systems distribution. The EOTECH leadership team has exceptionally broad and deep experience providing high-quality products to the global weapons accessory market.

Matt Van Haaren, Chief Executive Officer of EOTECH, added, “Over the past 30 years, Intevac Photonics has built an impressive portfolio of digital night vision technologies that set the standard for advanced military avionics platforms. We are excited to continue to build this business as it develops the next generation of digital night vision for the dismounted soldier.”

Houlihan Lokey’s Industrials team served as the exclusive financial advisor to EOTECH and assisted in the due diligence, valuation, and negotiation of the transaction. Houlihan Lokey’s Capital Markets team served as the exclusive placement agent to EOTECH, assisting the company in arranging, structuring, and negotiating the financing.

The transaction highlights the Houlihan Lokey’s proven success in industry and product group collaboration to provide creative, efficient, and comprehensive solutions for its clients. This deal also underscores the firm’s long-standing reputation as a premier advisor to the aerospace and defense sector.