Hulic Acquires Rays Company (Hong Kong) Limited (holding 63.88% of Raysum Co., Ltd.)

Hahn & Company and Lutronic CEO Haelyung Hwang Launch Tender Offer to Acquire Lutronic

June 14, 2023

Medical Devices

South Korean private equity firm Hahn & Company has signed definitive agreements with Lutronic founder and CEO Haelyung Hwang to jointly launch a tender offer for all remaining shares of Lutronic for KRW957.0 billion (US$735.9 million). Lutronic is a South Korea–based maker of aesthetic medical devices with 2022 revenues of over KRW264 billion and a growing global presence, particularly in the United States and Europe.

Hahn & Company Acquires Cynosure and Merges It with Lutronic to Form Cynosure Lutronic

January 19, 2024

Medical Devices

Hahn & Company completed the acquisition of Cynosure and has combined it with Lutronic (which Hahn had recently acquired) under the newly formed parent Cynosure Lutronic, Inc. The merger creates a global leader in energy‑based medical aesthetic systems with an expanded product portfolio, R&D capabilities and a broader international commercial footprint.

Kuraray Co., Ltd. Acquires Nelumbo Inc.

April 2, 2025

Manufacturing

Kuraray Co., Ltd. has acquired Nelumbo Inc., a Hayward, California-based developer of surface modification technologies, to add a new technology platform and accelerate global expansion. The deal—executed through Kuraray's U.S. subsidiary Kuraray Holdings U.S.A., Inc.—was announced April 2, 2025; the purchase price was not disclosed and Houlihan Lokey served as Nelumbo's exclusive financial advisor.

Haldia Petrochemicals and Rhône Capital Complete Acquisition of Lummus Technology

June 30, 2020

Energy

Haldia Petrochemicals Limited (part of The Chatterjee Group) and investment funds affiliated with Rhône Capital have completed a joint acquisition of Lummus Technology from subsidiaries of McDermott International for a base purchase price of $2.725 billion. The deal creates an independent, privately held Lummus focused on licensing process technologies, supplying catalysts and equipment, and expanding services to refining, petrochemical and gas-processing customers worldwide.

Summa Defence Acquires Lightspace Group, Inc

December 3, 2024

Aerospace & Defense

Finnish defence technology group Summa Defence Ltd has acquired Lightspace Group, Inc in a share-exchange transaction. Lightspace is a deep-technology XR company (AR/VR) that develops multi‑focal near‑eye displays and AR headsets for defense and healthcare; the company conducts product development and manufacturing in Latvia and reported ~EUR 400k revenue and ~25 employees in 2023.

Rain or Shine, Inc. Acquires Pomare, Ltd. (Hilo Hattie)

February 5, 2024

Retail

Rain or Shine, Inc., owned by Josh Margolis, completed the acquisition of Pomare, Ltd., the company operating under the Hilo Hattie trade name. JANAS acted as sellside advisor representing the owner; the deal moves ownership from the Pomare family to Rain or Shine after delays caused by COVID-19 and other local disruptions.