Stellex Capital Management Acquires Global Industrial Technology Leader Crest Ultrasonics
Stellex Capital Management a New York-based private equity firm managing more than $5 billion in assets, today announced the acquisition of Crest Ultrasonics (“Crest” or “the Company”), a globally recognized industrial technology manufacturer with operational presence in the United States, Europe, and Asia. This acquisition marks a significant step in Stellex’s strategy to invest in high-quality, innovation-driven industrial technology companies.
Crest Ultrasonics has been a pioneer in advanced industrial solutions for over six decades. The company specializes in designing and producing cutting-edge cleaning and welding equipment that serves a diverse range of industries, including healthcare, electronics, aerospace, automotive, consumer goods, and general industrial sectors. Crest’s reputation for technical excellence, precision engineering, and innovative solutions has established it as a trusted partner for organizations seeking high-performance equipment tailored to complex and demanding applications.
Brian Kivisto, the outgoing CEO of Crest, commented on the acquisition, saying, “It has been an honor to serve as Crest’s CEO. The Company’s dedicated team, culture of innovation, and premium technology offerings have positioned Crest for continued success. We believe that partnering with a leading firm like Stellex will provide the strategic guidance and resources needed to achieve sustained growth and unlock new opportunities globally.”
Under the new ownership, Stellex plans to work closely with Crest’s existing management team to further strengthen the company’s operational excellence, expand its growth initiatives, and build upon its foundation of technical innovation, quality, and exceptional customer service. The partnership is expected to accelerate Crest’s ability to meet the evolving needs of its customers across multiple sectors.
Ray Whiteman, Co-Founder and Managing Partner at Stellex, emphasized the strategic rationale behind the acquisition: “Today’s market increasingly rewards companies that deliver innovative, technology-driven solutions. Organizations with advanced engineering capabilities have a distinct advantage when customers require bespoke, complex equipment. Crest is exceptionally well-positioned for future success due to its proprietary technology, strong customer relationships, and growing global footprint. Stellex brings extensive experience in scaling specialized capital equipment businesses, and we look forward to supporting Crest as it enters this next chapter of growth.”
Jordan Mondshine, Vice President at Stellex, added, “Crest’s strategic presence across major economic regions allows the Company to deliver comprehensive service and support to clients worldwide. This investment reflects our confidence in Crest’s ability to scale globally while maintaining the high standards of quality and innovation that customers have come to expect. We are excited to collaborate with Crest’s talented team and provide the necessary resources and guidance to support the Company in its next phase of development.”
Financial and legal advisors played a critical role in facilitating the transaction. Houlihan Lokey acted as the exclusive financial advisor, while Norris McLaughlin P.A. served as legal counsel to Crest. On the Stellex side, Stout served as the exclusive financial advisor, with Morrison & Foerster LLP providing legal counsel. Terms of the transaction were not disclosed.
About Stellex Capital Management
Stellex Capital Management LLC is a private equity firm with offices in New York, London, Pittsburgh, and Detroit, managing over $5 billion in assets. Stellex focuses on identifying investment opportunities in companies that can benefit from an operationally driven, hands-on approach. The firm supports its portfolio companies by leveraging deep industry knowledge, operational capabilities, a network of senior executives, strategic insights, and access to capital.
Stellex primarily invests in sectors including aerospace, defense and government services, transportation and logistics, manufacturing, real economy and business services, food processing, and tech-enabled services. The firm’s approach emphasizes long-term value creation through operational improvements, strategic growth initiatives, and innovation-focused investments, making it a natural partner for companies like Crest Ultrasonics that are poised for expansion in global markets.
This acquisition reinforces Stellex’s commitment to building a portfolio of leading industrial technology companies and underscores Crest Ultrasonics’ position as a global leader in advanced cleaning and welding solutions. Together, the partnership aims to drive innovation, operational excellence, and international growth while delivering enhanced value to customers and stakeholders.
