CTS acquires CTG Advanced Material

LISLE - CTS Corp, a manufacturer of sensors, actuators and electronic components, said it has acquired CTG Advanced Material for $73 million in cash.

CTG-AM, formerly operated as H.C. Materials, is the designer and manufacturer of single crystal piezoelectric materials, serving major original equipment manufacturers throughout the medical marketplace. The materials enable high definition ultrasound imaging, as well as intravascular ultrasound technology. Other applications for these materials include wireless pacemakers, implantable hearing aids and defense technologies.

Located in Bolingbrook, CTG-AM was founded in 1997 and since 2013 has been a portfolio company of Blue Wolf Capital Fund II, L.P. CTG-AM is the only company to have vertically integrated its entire single crystal manufacturing process. With the acquisition, CTS gains intellectual property and proprietary manufacturing methods that expand its offering of piezoelectric materials, the company said in a release, allowing CTS to become the leading large-scale commercial producer of both single crystal materials and traditional piezoelectric ceramics.

"CTG-AM's market leadership, technological expertise and winning spirit are a perfect fit for CTS," stated Kieran O'Sullivan, CEO of CTS Corporation. "The acquisition of CTG-AM increases CTS' involvement in the medical industry, and expands our portfolio of products and technologies around the categories of sense, connect and move."

CTS components are used in the aerospace, communications, defense, industrial, information technology, medical and transportation markets.