CTS Corporation (NYSE: CTS) has announced the acquisition of CTG
Advanced Materials, LLC (CTG-AM) for $73 million in cash. CTG-AM,
formerly operated as H.C. Materials, is the market leading designer and
manufacturer of single crystal piezoelectric materials, serving major
Original Equipment Manufacturers throughout the medical marketplace.
These materials enable high definition ultrasound imaging (3D and 4D),
as well as intravascular ultrasound technology. Other applications for
these materials include wireless pacemakers, implantable hearing aids
and defense technologies.
Located in Bolingbrook, Ill., CTG-AM was founded in 1997 and since 2013
has been a portfolio company of Blue Wolf Capital Fund II, L.P. CTG-AM
is the only company to have vertically integrated its entire single
crystal manufacturing process. With the acquisition of CTG-AM, CTS gains
intellectual property and proprietary manufacturing methods that expand
its offering of piezoelectric materials. This allows CTS to become the
leading large-scale commercial producer of both single crystal materials
and traditional piezoelectric ceramics.
“CTG-AM’s market leadership, technological expertise and winning spirit
are a perfect fit for CTS,” stated Kieran O’Sullivan, CEO of CTS
Corporation. “The acquisition of CTG-AM increases CTS’ involvement in
the medical industry, and expands our portfolio of products and
technologies around the categories of Sense, Connect and Move.”
About CTS
CTS (NYSE: CTS) is a leading designer and manufacturer of sensors,
actuators and electronic components to OEMs in the aerospace,
communications, defense, industrial, information technology, medical and
transportation markets. CTS manufactures products in North America,
Europe and Asia.
About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC, a private equity firm founded in 2005,
specializes in control investments in middle-market companies. Leading
by experience, and with a reputation for excellence, Blue Wolf
transforms companies. Combining a collaborative approach with strategic
and operations resources, Blue Wolf manages challenging situations and
complex relationships between business, customers, employees and
regulators to build value for stakeholders. For additional information,
please visit www.bluewolfcapital.com.
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