Superior Technical Ceramics, a portfolio company of Artemis Capital since Oct 2018, has acquired IJ Research.
IJ Research (the IJ stands for “intelligent joining”) is a manufacturer of electrical feedthroughs and opto-electronic components with a specialization in ceramic-to-metal seals and bonds. The company’s products are used in medical, aerospace, defense, oil, and telecommunication applications as well as in applications involving particle physics, neutrino research, microwave windows, biomedical electrical connectors, x-rays, and x-band radar.
IJ Research’s services include design assistance, material selection consultation, prototyping and production. IJ Research was founded by its CEO Dr. Rick Yoon in 1988 and is headquartered in Santa Ana, California.
Superior Technical Ceramics (STC) is a provider of ceramic materials that are used in a range of industries, including aerospace, defense, analytical instrumentation, energy, oil and gas, and semiconductor processing. The company’s materials offer distinct operating properties and are used in a range of operating environments including high heat, high pressure, corrosive, and high mechanical wear.
STC, founded in 1898 and led by President John Goodrich, has more than 160 employees and 135,000 square feet of manufacturing space at its headquarters in St. Albans, Vermont.
“We are excited to be a part of STC,” said Dr. Yoon. “The firms are a natural fit in many ways, as we both share similar cultures, each with a deep respect for engineering talent, a nimble working style and a shared vision for customer-centric servicing. The fact that we share work with customers in many of the same markets illustrates the opportunities that now exist for integrated offerings and mutual growth.”
“IJR’s brazing and sealing capabilities will serve to extend STC’s technical ceramic capabilities,” said Olly Forrer, a vice president at Artemis. “Their unique ceramic-to-metal sealing and sapphire-to-metal brazing specialties will enhance STC’s ability to satisfy a more diverse spectrum of their customers’ needs in terms of reliability, tolerance, and durability. Artemis is optimistic regarding the continued growth of this ceramic technology platform.”
Artemis Capital invests in companies with revenues of $5 million to $50 million and EBITDA of $1 million to $10 million. Sectors of interest include manufacturers of differentiated industrial technologies, including aerospace, automotive, defense, energy, industrial automation, scientific and research, and medical sectors. Artemis was founded in 2010 and is based in Boston.
Manhattan Beach, California-based Critical Point Partners was the advisor to Artemis and STC on the acquisition of IJ Research.
© 2021 Private Equity Professional | February 10, 2021
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