Channel Technologies Group (CTG), a manufacturer of piezoelectric components and sonar and navigation systems, on Monday said it has acquired H.C. Materials Inc. (HCM), boosting its capabilities in piezoelectric single crystals.
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| Customs shapes of piezoelectric cyrstals Photo: HCM |
Terms of the deal were not disclosed.
CTG, a portfolio company of the private equity firm Blue Wolf Capital, said the acquisition allows it to capitalize on HCM’s leadership in the piezoelectric single crystal area, particularly within the medical ultrasound market. The company also said the acquisition consolidates its position as a global leader in the ceramic-based piezoelectric industry.
“This is an important strategic step for CTG as we continue to grow in mission critical segments of the defense, energy and medical technology sectors,” Ralph Phillips, CTG’s CEO, said in a statement. “The addition of HCM’s single crystal technology strengthens our advanced materials segment, as well as our ability to deliver the high-quality, state-of-the-art technological applications demanded by our customers.”
As part of the deal, HCM’s chief Pengdi Han will become an equity owner of CTG and an active board member. The investment firm Houlihan Lokey served as financial advisor to HCM on the transaction.