For Immediate Release:
August 24, 2010 ‐MAINE, USA
ANANIA & Associates Investment Company LLC (“AAI”), a Maine Investment Fund just completed the purchase of the controlling interest in Lighthouse Imaging Corporation (“Lighthouse”). As an FDA registered medical device manufacturer based in Portland, Maine, Lighthouse is a leading provider of optical engineering and design services for the medical industry.
The company was founded in 1984 by Dennis Leiner Ph.D., a renowned expert in optics design, who holds numerous patents with a strong focus on endoscopes of all kinds.
“We are very excited to be partnering with Dr. Leiner and the Lighthouse team to assist them in growing the company, whichis recognized worldwide as a leader in the industry. The results of our customer survey, performed during the due diligence,provided a clear picture of the Company’s stellar reputation in the industry with the major medical companies they serve”
commented Peter V. Anania, Chairman of AAI.
“When combined with AAI’s financial and administrative support the results will be strong growth for Lighthouse. This industry sector has a projected Current Annual Growth Rate of 20% or more and Lighthouse is now poised to take advantage of this.”
“This is definitely a growth year for AAI’s Investment Fund”, Anania further declared. “We are seeing many opportunities, but have chosen those we believe will increase our investor’s value over the long term, either through synergies with our existing portfolio companies or with high growth potential companies like Lighthouse.”
Maine Private Equity
This is AAI’s fourth investment in a Maine company this year. AAI raised over $2,500,000 in new equity capital this year to facilitate these investments. Currently, investment in AAI’s Fund qualifies for 40% (of the investment) or more in a Seed Capital
Tax Credit against the taxpayer’s Maine State Income Tax. The Fund also recently qualified as a Self‐Directed IRA investment with First Trust Company of Onaga, opening up a new tax deferred investment for our investors.
1998 – Maine Cedar Log Homes LLC, established in 1916, manufactures quality log homes with a focus on retirement and vacation homes in many standard or custom designs.
2000 – MEGA Industries LLC manufactures microwave waveguide and components for military, scientific and commercial applications including radar systems, missiles and satellite tracking.
2002 – MCL Realty LLC is an incubator business park which is now home to three AAI Companies and an unrelated Maine start‐up, Atlantic Concealment.
2004 – mWAVE Industries LLC designs and manufactures point to point microwave antenna products for commercial and government applications spanning the scientific, defense, and academic communities.
2005 – White Cedar Gazebos, a Division of MCLH, manufactures quality gazebos with Maine craftsmanship and care.
2010 – Biovation LLC designs and manufactures custom bio‐polymer based nonwovens, fibers, films, coatings and nano‐materials, for commercial applications for the food, medical, textile and scientific communities.
2010 – Grow‐Tech LLC provides growth media solutions for leading commercial growers and propagators in horticultural, forestry and hydroponics markets around the world.
2010 – Industrial Microwave Oven Services LLC, services, retrofits and sells spare parts for industrial microwave ovens and their users worldwide.
2010 – Lighthouse Imaging Corp LLC – designs and manufactures optics for medical instrumentation such as endoscopes as well as optical testing and measuring systems sold worldwide. The company was named the Maine International Trade Center Innovator of the Year in 2010.
For more information contact: Jeffrey G. Tounge, AAI Director of Business