NEW YORK: Stellex Capital Management, a private equity firm with more than $5 billion in assets under management, announced Friday it has acquired Crest Ultrasonics, a global manufacturer of advanced cleaning and welding equipment.
Crest, headquartered in the U.S. with operations across Europe and Asia, has served industrial sectors for over six decades, including healthcare, electronics, aerospace, automotive and precision manufacturing.
“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 said it will collaborate with Crest’s management to drive operational excellence and accelerate growth initiatives, citing Crest’s engineering capabilities and global footprint as key assets.
“Today’s market increasingly rewards companies that deliver innovative, technology-driven solutions,” said Ray Whiteman, Stellex co-founder and managing partner. “We believe Crest is well-positioned for success given its technology, deep customer relationships, and expanding global footprint.”
Jordan Mondshine, vice president at Stellex, added that Crest’s presence across major economic regions supports its ability to scale globally. “We are excited to partner with Crest’s talented team and support the Company in its next phase of growth,” he said.
Houlihan Lokey acted as exclusive financial advisor and Norris McLaughlin P.A. as legal counsel to Crest. Stout served as financial advisor and Morrison & Foerster LLP as legal counsel to Stellex. Terms of the transaction were not disclosed.