Lucidyne Technologies, Inc.

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has been acquired by Microtec Logo

Lucidyne Technologies, Inc. (“Lucidyne”) develops sophisticated scanning and defect detection solutions for the lumber mill industry powered by its proprietary, cutting edge Perceptive Sight deep learning artificial intelligence (“AI”) technology
Since its founding in 1985, Lucidyne has been a technological leader in the lumber scanning space, introducing the market’s first AI-driven Grade Mark Reader in 1987
With 900+ products installed in domestic and international family-owned and blue-chip conglomerate mills, Lucidyne has broad reach with multiple opportunities for growth
Patented Perceptive Sight technology drives market-leading speed, accuracy and ROI of Lucidyne’s lumber scanning machinery and secures a technological competitive advantage against competing lumber scanner manufacturers

After growing the Company with no outside capital and with declining health, Lucidyne’s founder sought a full sale to facilitate expansion with the backing of growth capital
Unmatched technology and ROI positioned Lucidyne products well in the market, but the Company lacked the broad sales reach and product range necessary for rapid sales growth

Cascadia ran a multipronged sales process to maximize value and likelihood of execution
Cascadia crafted separate marketing materials for each buyer bucket, including private equity buyers, select strategic buyers and stretch technology buyers that could apply Perceptive Sight technology in other industrial use cases
After receiving multiple bids, Lucidyne’s founder chose Italian competitor Microtec as the steward for his legacy, securing favorable terms and surety of close in the process
Despite receiving Microtec’s offer during the Covid-19 global pandemic, Cascadia drove a successful transaction with no in-person meetings in a one-month time period from LOI acceptance to close