# Meridian Holdings -- Corporate Overview

**Prepared for:** Due Diligence Review
**Date:** February 2026
**Classification:** Confidential

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## Company Profile

Meridian Holdings (NYSE: MRDH) is a diversified technology holding company headquartered in Boston, Massachusetts. Founded in 2008, Meridian acquires and operates enterprise software businesses serving the manufacturing, logistics, and supply-chain verticals.

| Metric | Value |
|---|---|
| Founded | 2008 |
| Headquarters | Boston, MA |
| Employees | ~4,200 |
| FY2025 Revenue | $892M |
| FY2025 EBITDA | $214M |
| Portfolio Companies | 11 |
| Public Listing | NYSE: MRDH |

## Acquisition Strategy

Meridian targets B2B SaaS companies with the following characteristics:

- Annual Recurring Revenue (ARR) between $15M and $120M
- Gross margins above 70%
- Strong customer retention (net revenue retention > 110%)
- Vertical-specific domain expertise
- Defensible intellectual property

Since 2018, Meridian has completed 7 acquisitions, with an average acquisition multiple of 8.2x ARR. Post-acquisition, Meridian provides shared services (finance, HR, legal, IT infrastructure) while preserving brand identity and go-to-market independence.

## Recent Acquisitions

| Year | Target | Vertical | Deal Size |
|---|---|---|---|
| 2024 | Vectrix Systems | Warehouse automation | $186M |
| 2023 | CloudForge Platform | DevOps for manufacturing | $94M |
| 2022 | SupplyLens Inc. | Procurement analytics | $142M |
| 2021 | FleetTrack Pro | Fleet management | $67M |

## Key Executives

| Name | Title | Tenure |
|---|---|---|
| Executive A | CEO & Chairman | Since 2008 (Founder) |
| Executive B | CFO | Since 2019 |
| Executive C | VP Corporate Development | Since 2021 |
| Executive D | CTO | Since 2020 |

## Proposed Transaction: NovaBridge Solutions

Meridian is evaluating the acquisition of NovaBridge Solutions, Inc. ("NovaBridge"), a supply-chain analytics SaaS company based in Austin, TX. Key transaction parameters:

- **Deal Type:** 100% equity acquisition
- **Expected Valuation:** $85M - $110M (subject to diligence)
- **NovaBridge ARR:** ~$18.5M (as of Q4 2025)
- **NovaBridge Gross Margin:** 78%
- **NovaBridge Headcount:** ~140 employees
- **Expected Close:** Q2 2026

### Strategic Rationale

1. **Complementary Product:** NovaBridge's predictive analytics capabilities complement Meridian's existing SupplyLens procurement platform.
2. **Customer Base Expansion:** NovaBridge serves mid-market and enterprise clients in verticals Meridian has limited penetration.
3. **Technology Integration:** NovaBridge's ML models for demand forecasting can be integrated across the Meridian portfolio.
4. **Geographic Reach:** NovaBridge's EU subsidiary (NovaBridge EU GmbH) provides a foundation for Meridian's European expansion.

### Key Diligence Areas

- Change-of-control provisions in customer contracts
- IP ownership and open-source compliance
- Revenue recognition practices
- Customer concentration risk (top 5 customers = ~42% of ARR)
- Integration of DataLoom Analytics acquisition (June 2024)
