Dukane Acquired by The Crest Group

The Crest Group (Crest), a global industrial technology manufacturer, 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 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,” says 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,” says 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,” says 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,” adds 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.”