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, today announced it has acquired the assets of H.C. Materials Inc. and its affiliates (collectively, "HCM") from Dr. Pengdi Han ("Dr. 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.
Ralph L. Phillips, CEO of CTG, said, "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. The addition of H.C. Materials' 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. We welcome H.C. Materials to the CTG team and are excited to expand the suite of cutting-edge solutions we are able to offer our customers."