Published on October 12, 2013 at 11:07 AM
"By combining the capabilities of our two companies, we can further innovate and better address our customers' needs," said Dr. Pengdi Han, founder and president of H.C. Materials. "The core processes and techniques developed by H.C. Materials provide it with a leading global position. We are very excited about working with our new partners at Channel Technologies to create new applications for single-crystal piezoceramics."
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.
Haranjeet Narulla, Principal at Blue Wolf, said, "We look forward to a long and fruitful partnership with Dr. Han as we continue to support CTG's growth, including diversifying its product offering through strategically important acquisitions."
Houlihan Lokey served as financial advisor to H.C. Materials in this transaction.
SOURCE Channel Technologies Group