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Arlington Capital buys Zemax unit from Evergreen Pacific-backed Radiant Zemax

Radiant Zemax, a provider of test, measurement and design solutions for the optics, illumination and display sectors, has sold its Zemax unit to Arlington Capital Partners. No financial terms were disclosed. As a result of the transaction, the Radiant division will continue to be backed by Evergreen Pacific Partners. Stifel served as financial advisor to Radiant Zemax and Evergreen Pacific Partners in the sale.


(October 24, 2014) SEATTLE – Evergreen Pacific Partners announced today its portfolio company Radiant Zemax, a global provider of test, measurement and design tools and systems to the optics, illumination and display industries has sold the Zemax division to Arlington Capital Partners. The Radiant division will continue to be a portfolio company of Evergreen Pacific Partners. This will allow Radiant and Zemax to better address opportunities in global markets by focusing efforts and strategies in their respective core industries. Terms of the transaction were not announced.

When Evergreen Pacific Partners facilitated the merger of Radiant Imaging and Zemax Development three years ago, Zemax’s focus was on improving its product line, building a leadership and development team, expanding the global sales capability, and creating a successful growth model. Zemax has accomplished these objectives and is now ready for its next chapter. Management and Evergreen Pacific Partners believe that an independent Zemax will be better positioned to deliver on its customers and growth strategy.

“I commend the hard work the Zemax team did to dramatically grow the business,” said T.J. McGill, co-founder of Evergreen Pacific Partners. “Many opportunities lie ahead for both Zemax and Radiant and this move will allow both companies to continue to be leaders in their respective markets.”

Radiant Zemax offers a range of test and measurement products to improve and optimize product design and quality while meeting cost goals. Its product lines include the industry standard Zemax optical and illumination design software; TrueTest™ automated visual inspection for display systems; ProMetric® Imaging Colorimeters and Photometers, and Goniometers and Imaging Spheres.

Evergreen Pacific Partners, which manages two private equity funds totaling $700 million, invests in traditional buyouts, management led buyouts, and growth equity investments involving traditional industry, middle-market companies in the Western U.S. and Canada. To date, the firm has completed 10 platform investments involving companies in Washington, Arizona and California. Its investors include foundations, endowments, pension funds, and West Coast-based CEOs with experience in Evergreen’s target industries.

Stifel acted as financial advisor to Radiant Zemax and Evergreen Pacific Partners.

About Evergreen Pacific Partners
Based in Seattle, Wash., Evergreen Pacific Partners currently manages two private equity funds totaling $700 million, with a focus on investing in traditional, middle-market companies in Western North America. Evergreen Pacific was co-founded by Timothy Bernardez, T. J. McGill, and Michael Nibarger. Evergreen Pacific’s acquisitions and investments include Vantage Mobility International (Phoenix, Ariz.), Gene Juarez Salons & Spas (Seattle, Wash.), Good Source Solutions (Carlsbad, Calif.), Haney Truck Line (Yakima, Wash.), Nuprecon (Snoqualmie, Wash.), CST Environmental (Brea, Calif.), Marcor Environmental (Baltimore, MD), Radiant Imaging, Inc. (Redmond, Wash.), Zemax Development Corporation (Redmond, Wash.), NorthStar Group Holdings (New York, NY), Thermal Dynamics (Ontario, Calif.), PAC Stainless (Seattle, Wash.), Span Alaska (Auburn, Wash.) and SafeWorks (Seattle, Wash.).