Mooreland Partners Advises Daylight Solutions on $150 million Sale to Leonardo DRS

Acquisition of Daylight Solutions Expands Italy-based Leonardo’s US Presence and Infrared Laser Capabilities

FOSTER CITY, CA – June 27, 2017 – Mooreland Partners,the leading independent investment bank providing M&A and private capital advisory services to the global technology industry, today announced that it acted as the exclusive financial advisor to Daylight Solutions on its $150 million acquisition by Leonardo DRS, the US subsidiary of Leonardo Finmeccanica S.p.A.  Daylight Solutions co-founders, Timothy Day and Paul Larson, are expected to remain with Leonardo DRS.

Based in San Diego, California, Daylight Solutions develops molecular detection, imaging and illumination systems for use in scientific research, life sciences, industrial process control, and defense applications. The company is the world leader in mid-infrared laser based solutions, with a line of broadly tunable and fixed wavelength laser sources and sensors that utilize mid-infrared spectroscopy.

Based in Arlington, Virginia, Leonardo DRS is a leading technology innovator and supplier of integrated products, services and support to military forces, intelligence agencies and prime contractors worldwide. The company specializes in naval and maritime systems, ground combat mission command and network computing, global satellite communications and network infrastructure, aviation support and avionics systems, and intelligence and security solutions. Additionally, Leonardo DRS builds power systems and electro-optical/infrared systems for a wide range of commercial customers. Leonardo DRS is a wholly owned subsidiary of Leonardo-Finmeccanica S.p.A., which employs more than 47,000 people worldwide.

The acquisition will position Leonardo DRS to extend its leadership in infrared technology and secure a significant role in the rollout of new US military aircraft survivability systems. The integration of laser and sensor systems developed by the two companies can be used in a variety of dual-use applications, including aircraft survivability products as well as medical and industrial applications, including imaging for cancer diagnostics and chemical detection. “This transaction once again demonstrates the strength of Mooreland’s trans-Atlantic, crossborder M&A capabilities in the Industrial Technologies sector. Daylight Solutions has developed leading mid-infrared products for a range of industries based on its enabling quantum cascade laser (QCL) technology and the combination with Leonardo DRS will accelerate the commercialization of new applications,” said Paul Milek, Managing Director, Mooreland Partners.