PE Channels Technologies, Acquires Materials Systems
October 13, 2014
Channel Technologies Group, which is backed by Avante Mezzanine Partners, Blue Wolf Capital and The Gladstone Companies, has acquired Materials Systems (MSI). A designer and manufacturer of sonar transducers and arrays for defense and commercial customers, MSI's tech is used in applications such as mine hunting, torpedo honing, oil & gas surveying and various medical purposes. CTG has been backed by Blue Wolf Capital since December 2011; Gladstone supported the transaction with $19.6 million in debt and equity, while Avante Mezz backed CTG nearly two years later.