New York-based private equity firm Blue Wolf Capital Partners has acquired Channel Technologies Group, a Santa Barbara, CA-based manufacturer and supplier of piezo-electric ceramics, transducers and complex systems and services for an undisclosed sum.
Blue Wolf bought the company from Channel Technologies Inc.
The investment, which was made through an affiliate of Blue Wolf Capital Fund II, L.P. along with the executive management team and Gladstone Investment Corporation (NASDAQ: GAIN), is designed to help the company continue to grow organically and through acquisitions.
Founded in 1959 and led by CEO Kevin Ruelas, who will remain with Channel Technologies under its new owner, the company designs and manufactures products used in military, commercial, geophysical and medical applications.
It has four divisions:
– Channel Industries, which manufactures piezoelectric ceramics;
– International Transducers, which designs, manufactures and repairs acoustic transducers;
– Sonatech, which provides consulting and highly engineered acoustic solutions for defense-industry customers; and
– Electro-Optical Industries, which manufactures advanced infrared and visible light spectrum test and calibration equipment.
Channel Technologies Group currently has approximately 250 employees.