NEW YORK–(BUSINESS WIRE)–Stellex Capital Management (“Stellex”), a New York-based private equity firm with more than $5 billion in assets under management, today announced that it has acquired Crest Ultrasonics (“Crest” or “the Company”), a global industrial technology manufacturer with operations in the U.S., Europe and Asia.
For more than 60 years, Crest has specialized in the design and production of advanced cleaning and welding equipment for a range of industry applications across healthcare, electronics, aerospace, automotive, consumer and general industrial sectors.
“It has been an honor to serve as Crest’s CEO,” said Brian Kivisto. “With the Company’s dedicated team, culture of innovation, and premium technology offering, Crest is positioned for future success. We believe partnering with an industry leading firm like Stellex will allow Crest to have the strategic support and resources to achieve sustained growth.”
Stellex will work closely with Crest’s management team in an effort to drive operational excellence, accelerate growth initiatives, and build on the Company’s foundation of technical innovation, quality, and customer service.
“Today’s market environment increasingly rewards companies that deliver innovative, technology-driven solutions, with advanced engineering capabilities serving as a key differentiator for customers requiring bespoke and complex equipment. We believe Crest is well-positioned for success given its technology, deep customer relationships, and expanding global footprint,” Ray Whiteman, co-founder and Managing Partner at Stellex said. “Stellex has strong experience in scaling specialized capital equipment businesses and this strategic partnership should allow Stellex to execute its operational value creation strategy and support Crest’s growth in this next chapter.”
“Crest’s strategic footprint across major economic regions enables the Company to deliver comprehensive service and support to customers worldwide. This investment reflects our belief in Crest’s ability to scale globally,” added Jordan Mondshine, Vice President at Stellex. “We are excited to partner with Crest’s talented team and support the Company in its next phase of growth.”
Houlihan Lokey served as the exclusive financial advisor and Norris McLaughlin P.A. as legal counsel to Crest. Stout served as the exclusive financial advisor and Morrison & Foerster LLP as legal counsel to Stellex. Other terms of the transaction were not disclosed.
About Stellex Capital Management LLC
With offices in New York, London, Pittsburgh, and Detroit, Stellex Capital is a private equity firm with over $5 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that stand to benefit from its operationally focused and hands-on approach to investing. Portfolio companies are supported by Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insights, and access to capital. Sectors of particular focus include aerospace, defense & government services, transportation & logistics, manufacturing, real economy & business services, food processing, and tech-enabled services. Additional information may be found at www.stellexcapital.com.
About Crest
Crest is a global industrial technology company specializing in high-performance cleaning and welding equipment for the medical, electronics, aerospace, automotive, industrial, consumer, and precision manufacturing markets. With manufacturing facilities in the United States, Europe, and Asia, Crest delivers innovative solutions that help customers maintain production efficiency, safety, and compliance in mission-critical environments.
Contacts
Media Contact:
For Stellex Capital Management LLC:
Prosek Partners
Mike Geller / Rachel Goun
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