Channel Technologies Acquires Materials Systems
Continues expansion in complex medical, defense and energy products.
Channel Technologies Group, LLC (“CTG”), a manufacturer of piezoelectric ceramics, transducers and complex sonar and navigation systems used in the defense, medical and energy industries, has announced it has acquired Materials Systems Inc. (“MSI”) located in Littleton, MA. MSI will become a wholly-owned subsidiary of CTG. Terms of the transaction were not disclosed. CTG is a portfolio company of Blue Wolf Capital Fund II, L.P.
Dr. Carol W. Bowen has served as President of MSI since the November 2012 passing of her husband, Dr. Leslie J. Bowen, who founded MSI in 1991. Dr. Bowen has retired from the company effective the date of the acquisition’s closing. Other senior MSI executives will join Channel Technologies.
Ralph L. Phillips, CEO of CTG, said, “This is an enormously synergistic combination that will allow CTG to ramp up our growth and better address the complex needs of our customers. The addition of MSI’s piezocomposite sonar transducer technology will complement our single-crystal technology and give CTG the broadest product offering in acoustic transducers. MSI will also complement our emerging advanced sonar products. We welcome MSI to the CTG team.”
Dr. Bowen said, “MSI is excited to become a part of CTG. Combining the resources and strengths of our organizations offers tremendous synergy and strategic growth opportunities. Together CTG and MSI will continue to develop and deliver unparalleled innovative solutions for customers, and further enhance the service and value provided to them.”
Haranjeet Narulla, Partner at Blue Wolf added, “We are excited that CTG is continuing its strategy of growth through smart strategic acquisitions. The addition of quality companies like MSI will cement CTG’s reputation as the global leader in piezoceramic applications for the medical, industrial and defense industries.”
Dunn Rush & Co. LLC served as financial advisor to Materials Systems Inc. in this transaction.
