TJC-backed Ascend Parent acquires Luna Innovations
The Roanoke, Virginia-based fiber optic sensing and test specialist is being taken private in an all-cash deal to expand its reach across critical infrastructure, advanced manufacturing, and other industrial end markets.
Takeaways
- Luna Innovations is a fiber optic sensing, test and measurement solutions provider.
- TJC is acquiring Luna Innovations.
- The target serves critical infrastructure and advanced manufacturing across Virginia.
Luna Innovations, a Roanoke, Virginia-based provider of fiber optic sensing and test and measurement solutions for data centers, semiconductor fabrication, aerospace, defense, and energy markets, has agreed to be acquired by TJC in an all-cash take-private at $1.39.
Following the close, Luna will operate as a wholly owned subsidiary of TJC affiliate Ascend Parent LLC.
The transaction follows Luna’s delisting from Nasdaq in February 2025 and subsequent deregistration of its common stock.
White Hat Capital Partners, representing approximately 25% of the voting power, has agreed to support the deal.
TJC intends to invest in expanding Luna’s product portfolio and manufacturing capabilities to meet rising demand for mission-critical optical technologies.
Evercore is serving as financial advisor to Luna, with King & Spalding as legal counsel.
Guggenheim Securities advised TJC, and Kirkland & Ellis provided legal advice.
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