Channel Technologies Acquires H.C. Materials

An affiliate of 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, announced it has acquired the assets of H.C. Materials Inc. and its affiliates (collectively, HCM) from Dr. Pengdi Han. As part of the acquisition, Dr. Han will become an equity owner of CTG, as well as an active board member. Other terms of the transaction were not disclosed. CTG is a portfolio company of Blue Wolf Capital Fund II, L.P.

The acquisition enables CTG to capitalize on HCM’s global recognition and leadership in the piezoelectric single-crystal arena, especially within the medical ultrasound market. It also consolidates CTG’s position as a global leader in the ceramic-based piezoelectric industry.

HCM’s operations will remain in its current Bolingbrook, Illinois location. CTG will continue to invest in research and development into next-generation applications for piezoelectric ceramics and single-crystals in both Bolingbrook and Santa Barbara.

Houlihan Lokey served as financial advisor to H.C. Materials in this transaction.

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