The Crest Group Acquires Dukane, a Global Leader in Advanced Ultrasonic Solutions and Plastic Joining Technologies

NEW YORK--(BUSINESS WIRE)--The Crest Group (“Crest”), a global industrial technology manufacturer, today announced it has acquired Dukane, a global manufacturer of advanced ultrasonic solutions and plastic joining technologies. Crest is backed by Stellex Capital Management (“Stellex”), a New York-based private equity firm. Terms of the transaction were not disclosed.

Crest is a leading manufacturer of ultrasonic cleaning and welding solutions. Dukane, which offers a broad technology portfolio in plastic joining, specializes in the design and production of highly engineered, automation-enabling plastic bonding and cutting solutions for mission-critical manufacturing applications across the medical, nonwoven, transportation, food processing, packaging, electronics, and general industrial sectors. The company maintains operations in the U.S., Europe, and Asia.

The acquisition reflects Crest’s continued commitment to strategically expand its platform and provide customers with a broad array of solutions. The new partnership is expected to create meaningful opportunities for Crest and Dukane, allowing both companies to collectively leverage their technical expertise across a wide range of end markets.

“This is an exciting new chapter for Dukane,” said Mike Johnston, Chief Executive Officer of Dukane. “From our first conversations with Crest’s leadership team and the executives at Stellex, it was clear that we share a common vision for the future of the business. Together, we believe we are well positioned to pursue our next phase of growth while continuing to deliver the level of service, reliability, and responsiveness our customers expect.”

“What impressed us most about Dukane was the combination of innovative products, capabilities, and a strong corporate culture,” said Tom Cunningham, Chief Executive Officer of the Crest Group. “We believe their capabilities complement our own and will help us serve customers more effectively as we continue scaling our platform internationally.”

“Dukane has built a strong business,” said Ray Whiteman, co-founder and Managing Partner at Stellex. “We believe Stellex’s operationally focused value creation model is well suited to scaling specialized industrial businesses like Dukane, and we are excited to partner further with the Crest and Dukane teams to support the combined platform’s next chapter.”

“Dukane extends the platform into new end markets with growth potential and adds complementary capabilities in others,” added Jordan Mondshine, Vice President at Stellex. “Dukane's differentiated technology and global scale create a strong base, and we look forward to partnering with the team in pursuing our shared growth strategy.”

Stout served as the exclusive financial advisor and Paul Hastings served as legal counsel to Dukane. Morrison & Foerster LLP served as legal counsel to Crest.

About The Crest Group

The Crest Group 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. Additional information may be found at www.thecrestgroupincorporated.com.

About Dukane

Headquartered in St. Charles, Illinois, Dukane is a global leader in advanced ultrasonic solutions and plastic joining technologies, offering a broad technology portfolio in the industry. Engineered with automation in mind, Dukane's technologies deploy across the full range of production settings, from in-line automation within highly automated production lines to automated work cells and benchtop systems. Supported by an extensive patent portfolio and operations across the U.S., Europe, and Asia, Dukane serves more than 3,500 customers worldwide. Additional information may be found at www.dukane.com.

About Stellex Capital Management LLC

With offices in New York, London, Pittsburgh, and Detroit, Stellex Capital is a private equity firm with over $6.9 billion in assets under management. 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.