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Merit Investment Bank Professionals See Promotions after Successful 2021

jeff sasakura david barnes promotion
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Merit Investment Bank & Company, a middle-market investment bank and M&A advisory firm is pleased to announce the promotion of Jeff Sasakura and Chris Barnes to Managing Director. Jeff Sasakura joined Merit Investment Bank as an intern in 2007 and became a shareholder in 2019. As Managing Director of Execution, Jeff leads the firm’s deal completion team to ensure that all clients receive personalized and effective representation. Jeff’s technical expertise, business acumen, and entrepreneurial instincts ensure that Merit Investment Bank’s clients consistently receive above-market outcomes. (https://www.linkedin.com/in/jsasakura/) 

Chris Barnes, who joined Merit Investment Bank in 2020 as a Director in the Denver office, has also been promoted to Managing Director. During his tenure with the firm, Chris has successfully managed M&A assignments in technology, transportation, aviation, and consumer products. Prior to joining Merit Investment Bank, Chris held senior executive positions in corporate development, family office management, a boutique investment bank he founded, and at a Wall Street global investment bank. (https://www.linkedin.com/in/chrisbarneshockey/) 

Craig Dickens, CEO of Merit Investment Bank, shared his excitement regarding the promotions, saying in an announcement that Sasakura and Barnes are “invaluable contributors…each personifying the attributes that make JD Merit a great place to work”. Both have successfully closed numerous M&A and capital raising transactions, with Barnes having completed over $1 billion in aggregate transaction value and Sasakura closing over 30 business sale transactions. 

Dickens continued, “promotions came after a year of tremendous growth and recognition for Merit Investment Bank, which [Barnes and Sasakura] helped drive”. In 2021, Merit Investment Bank was awarded Boutique Investment Banking Firm of the Year by M&A Advisor, as well as Information Technology Deal of the Year $100M-$250M and Strategic Acquisition of the Year over 50MM. 

Along with the promotions of Barnes and Sasakura to Managing Director positions, Merit Investment Bank promoted Sean Ostrander to Vice President and Keagan Dunn to Investment Banking Associate. Sean has been an integral member of our team for six years and contributes both operationally and in client-facing roles. Keagan joined the firm in 2021 as an analyst to enhance our technology transaction team and has quickly become a key contributor to the firm. 

About Merit Investment Bank:

Merit Investment Bank is a leading Boutique Investment Bank focused on serving middle-market technology-forward companies. Merit Investment Bank executes sell-side M&A, buy-side M&A, and capital advisory services with specific emphasis on the technology, software, consumer, telecom/ wireless, and manufacturing / Industry 4.0 sectors. In addition, Merit Investment Bank offers other Investment banking services such as debt and equity capital raises, restructuring advisory services, business valuations, and project financing through its subsidiary, Merit Investment Bank Securities, member FINRA / SIPC, a full-service Broker-Dealerlicensed in 50 states

Merit Investment Bank, a leading middle market investment bank, with a specialization in building products, is honored to have served as exclusive advisor to VaproShield (“VaproShield”) in its sale to (Muncaster Capital.)

by: Merit Investment Bank

SEATTLE – October 31, 2025 – PR.com – Merit Investment Bank (“Merit”), a leading middle-market investment bank with deep expertise in the building products and construction materials sector, is pleased to announce that it served as the exclusive financial advisor to VaproShield, a premier manufacturer of high-performance air and water barrier systems, in its sale to Muncaster Capital, a privately held investment company based in Texas.

This strategic transaction represents a significant milestone for VaproShield, a recognized innovator in the building-envelope industry. For more than two decades, the company has pioneered the design and manufacture of high-performance, vapor-permeable air barrier (AB) and water-resistive barrier (WRB) membranes and accessories. Through its commitment to research, sustainability, and customer-focused innovation, VaproShield has become a trusted partner to architects, builders, and developers seeking to enhance energy efficiency, moisture control, and long-term building performance.

“The sale of VaproShield shows what’s possible when visionary founders create real value and plan strategically for an exceptional exit,” said Craig Dickens, Chairman of Merit Investment Bank. “We were honored to help align the company with the right partner, culture, and capital for its next stage of growth. This milestone reflects years of innovation, discipline, and thoughtful preparation leading to an outstanding outcome.”

The acquisition by Muncaster Capital, am ESOP, will provide VaproShield with additional resources and strategic backing to expand operations, accelerate innovation, and strengthen its presence in both domestic and international markets. Muncaster’s long-term investment philosophy aligns closely with Vaproshield’s mission to deliver environmentally responsible, high-performance solutions to the construction industry.

“VaproShield has built an exceptional brand through innovation, sustainability, and performance,” added Chris Barnes, Managing Director at Merit Investment Bank. “It was a privilege to advise such a forward-thinking team whose commitment to excellence andcustomer trust has made them industry leaders. This transaction delivers a strong outcome for shareholders and positions VaproShield for its next phase of growth.”

Legal counsel for the company was provided by Holland & Knight LLP. Merit extends its appreciation to Stephen McKay and the firm’s M&A team for their seasoned legal guidance and support throughout the transaction, ensuring a smooth and efficient closing process.

The company was also advised by Baker Tilly US, LLP. Merit acknowledges Preston Smith, Director – Transaction Advisory, and Michael Hurst, Partner – Tax, for their expert guidance and transactional support. Their technical insight and professionalism were instrumental in achieving a successful closing.

About the Buyer

Muncaster Capital of Texas, Inc. is a privately held holding company based in Ennis, Texas, primarily associated with the building materials and protective coatings industry. Established in 1986, it serves as the parent company for Polyguard Products, a leading manufacturer of high-performance barrier systems, air and moisture membranes, and protective coatings used in construction and infrastructure projects.

Muncaster Capital oversees operations focused on innovation, sustainability, and long-term business growth within the building-envelope sector. As a mid-sized, family-owned enterprise, it plays a strategic role in managing assets, guiding corporate development, and supporting Polyguard’s mission to deliver durable, energy-efficient solutions to the construction industry.

About Merit Investment Bank

Merit Investment Bank is a leading boutique investment bank focused on serving founder/family-owned middle-market, technology-forward companies. The firm principally executes sell-side M&A, as well transactions with specific emphasis on the building products technology, infrstructure, consumer, and manufacturing/distribution/industry 4.0 sectors.

In addition, Merit offers services including buy-side M&A debt and equity capital raises, restructuring advisory, business valuations, and project financing.

Securities offered through Finalis Securities LLC, Member FINRA/SIPC. Merit Investment Bank and Finalis Securities LLC are separate, unaffiliated entities

Contact:

Craig Dickens, Chairman

Merit Investment Bank

Craig.Dickens@MeritInvestmentBank.com

253-370-8893

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