The Crest Group (Crest) has acquired of advanced ultrasonic solutions and plastic joining technologies manufacturer, Dukane. Crest is backed by Stellex Capital Management (Stellex). The move reflects Crest’s commitment to strategically expanding its platform, providing customers with an array of solutions.
The Crest Group
The Crest Group acquires Dukane
Dukane offers a broad technology portfolio in plastic joining, specialising in the design and production of highly engineered, automation-enabling plastic bonding and cutting solutions. The company operates across the US, Europe, and Asia, providing solutions to the medical, nonwoven, transportation, food processing, packaging, electronics, and general industrial sectors.
“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.”
Tom Cunningham, Chief Executive Officer of the Crest Group, added, “What impressed us most about Dukane was the combination of innovative products, capabilities, and a strong corporate culture. 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 specialised 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,” concluded 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.”