Channel Technologies Group Buys Materials Systems Inc.
Channel Technologies Group (USA), a manufacturer of piezoelectric ceramics, transducers and complex sonar and navigation systems used in the defence, medical and energy industries, has acquired Materials Systems Inc. (“MSI”) located in Littleton, MA, USA. 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 that the addition of MSI’s piezocomposite sonar transducer technology will complement the single-crystal technology and give CTG the broadest product offering in acoustic transducers. MSI will also complement their emerging advanced sonar products.
