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Mereo Capital Partners and Charter Oak Equity Announce Joint Investment in MP Design Group

Partnership to Accelerate Growth of Award-Winning Southeast Architecture, Engineering and Surveying Firm

BILOXI, MS / CONSHOHOCKEN, PA / WESTPORT, CT — June 9, 2026 — Mereo Capital Partners (“Mereo”) and Charter Oak Equity (“Charter Oak”) today announced a joint investment in a strategic partnership with MP Design Group (“MP”), an award-winning Architecture, Engineering and Surveying firm headquartered in Biloxi, Mississippi. Terms of the transaction were not disclosed.

Founded in 2007, MP Design Group has become one of the Southeast’s leading integrated architecture and engineering firms by helping clients navigate complex projects with speed, accountability, and a fully coordinated delivery approach. Through its multidisciplinary team, MP provides architecture, engineering, surveying, and consulting services that streamline project execution and reduce the challenges often associated with traditional design delivery.

The firm’s client portfolio includes 28 public school districts across Mississippi, Mississippi State University, The University of Southern Mississippi, numerous municipalities throughout South Mississippi and South Alabama, the Mississippi State Port Authority, Ingalls Shipbuilding, Fairbanks Morse Defense, Bollinger Shipyards, and other leading public and private sector organizations. MP’s work spans educational facilities, ports and maritime infrastructure, advanced manufacturing, government facilities, and transformational developments, making the firm a trusted partner for projects that are critical to the communities and industries they serve.

The investment by Mereo and Charter Oak will provide MP with access to strategic capital and operational resources to accelerate organic growth, expand its geographic footprint and selectively pursue acquisition opportunities in the highly fragmented architecture and engineering services market.

David Machado, PE, will continue to lead MP as Chief Executive Officer, partnering closely with the investor group to execute on the firm’s growth strategy.

Commenting on MP’s fit with Mereo’s strategy, Leo Helmers, Co-Founder and Managing Partner of Mereo remarked, “MP Design Group is exactly the type of lower middle-market business we seek to partner with — a talented leadership team, a deep and loyal client base and a strong track record of award-winning work in sectors with compelling long-term tailwinds. We are thrilled to support David and his team as they take MP to its next phase of growth, and we look forward to bringing Mereo’s operational expertise and resources to bear on behalf of the company.”

Zubin Avari, Managing Partner of Charter Oak Equity, added, “Charter Oak has a long history of partnering with exceptional management teams to build great businesses, and MP Design Group is a perfect example of the kind of management team we are proud to back. The firm has demonstrated an extraordinary ability to deliver complex projects on time and on budget. We are excited to work alongside the Mereo team and MP’s leadership to unlock the significant growth potential ahead.”

“This partnership represents a tremendous milestone for our firm and for the talented team we have assembled over the past nearly two decades”, commented Machado. “Mereo and Charter Oak bring not only meaningful capital, but deep experience helping businesses like ours scale thoughtfully and sustainably. We share the same values — a relentless commitment to our clients, an emphasis on quality, and a culture of collaboration — and I am confident that together we will build something exceptional. Our clients can expect the same dedication and service they have always received, now backed by even greater resources and capabilities.”

Adi Shankar

ADI SHANKAR

ANALYST

Prior to Mereo, Adi interned at Truist Financial Corporation on the Corporate Finance team, where he supported financial analysis, reporting, and accounting. He was also a member of Temple University’s student-managed investment fund, the Owl Fund, where he conducted fundamental equity research and managed a portion of the University’s endowment. Adi grew up in the Philadelphia area and graduated cum laude from Temple University in 2026 with a BA in Finance.

Phil Cooke

PHIL COOKE

VICE PRESIDENT

Prior to Mereo, Phil completed his MBA in Finance and Management at The Wharton School of the University of Pennsylvania, where he graduated with honors and was recognized on the Director’s List. Previously, Phil worked at Binnacle Capital Services, a family office, and served as Chief of Staff to the Chairman of Elsevier and Director of Corporate Affairs of RELX Group, Elsevier’s parent company. Phil grew up in the Philadelphia area and graduated magna cum laude from Princeton University with a BA in Philosophy. He interned with Mereo during the summer of 2023.

SCOTTIE MILLER

ASSOCIATE

Prior to Mereo, Scottie was an Investment Banking Analyst in the Global Healthcare Group at Jefferies, where he executed on various mergers and acquisitions and capital raising initiatives. Notably, his deal experience includes the sale of Dental Care Alliance, a leading multi-specialty dental support organization, to Mubadala Investment Company.
Scottie graduated summa cum laude from Bucknell University with his BS in Accounting and Finance.

JOHN MATTHEWS

SENIOR ASSOCIATE

John worked most recently at Hamilton Lane as a Direct Investment Analyst, evaluating equity and credit co-investment opportunities. John previously interned for Susquehanna Private Capital and LMZ Partners. John received his BBA from Temple University.

ADAM BOWIE

PRINCIPAL

Prior to Mereo, Adam worked for L2 Capital Partners executing control investments across a variety of industries in the lower middle-market and supporting portfolio companies on high-impact strategic initiatives. Previously, Adam was an investment banker covering diversified industrial companies in Citigoup’s Global Industrials Group. Before transitioning to a career in finance, Adam served as a Ground Intelligence Officer in the United States Marine Corps. Adam earned his MBA in finance and management from NYU Stern and his BBA from Temple University.

GIORGIO BOERO

CHIEF FINANCIAL OFFICER

Giorgio most recently served as CFO of Silver Star Opportunity Partners and as a consultant for Financial Advisers Partnership. Previously, he worked at Silvermine Capital Management as the firm’s CFO. Prior to Silvermine, Giorgio was the CFO of TCW Advisors, Inc. Private Equity Fund, specializing in Latin American middle-market companies. Giorgio received his Master’s in Professional Accountancy from the University of Buenos Aires.
John O'Hare

JOHN O'HARE

CO-FOUNDER, PARTNER

Prior to Mereo, John was a senior professional at Tortola Advisors, where he provided operational turnaround services to middle-market companies. Previously, John was Co-Portfolio Manager at Saybrook Corporate Opportunity Funds. While at Saybrook, he served on the boards of directors of six portfolio companies. John received his BA from the University of Illinois and his MBA from Vanderbilt University.

RICH KURTH

CO-FOUNDER, MANAGING PARTNER

Rich most recently served as Co-Head of the Man Group’s Leveraged Credit strategy. Rich previously sold Silvermine Capital Management, a credit hedge fund he co-founded, to the Man Group. Prior to founding Silvermine, Rich was founding member, portfolio manager, and head trader of TCW’s Senior Loan and Bank Debt Group. Rich received his BS in Business Administration from The Citidel, The Military College of South Carolina.

LEO HELMERS

CO-FOUNDER, MANAGING PARTNER

Leo is the founder of three investment strategies: Susquehanna Private Capital, a middle-market buyout fund; LMZ Partners, a family office focused on lower middle-market control buyouts; and Carlyle Mezzanine Partners, the mezzanine funds of The Carlyle Group. Previously, he worked at Crescent Capital, the Mezzanine investment platform of TCW. Leo has recently served on the boards of several portfolio companies, including McNally Ind., SPC Dermatology, Sunrise Transportation, LeverPoint Management and Long Island Veterinary Specialists. Also, Leo was recruited to chair the board of Plews, Inc. in a successful turnaround.