Channel Technologies Group, a portfolio company of Blue Wolf Capital, has acquired Materials Systems Inc. (MSI).
Financial terms remain undisclosed.
MSI is a provider of injection-molded piezecomposite sonar technology. Founded in 1991, the Littleton, Massachusetts-based company became known for developing applications used in mine hunting, mine neutralization and torpedo honing, as well as in oil and gas exploration.
MSI tapped Dunn Rush & Co. was a financial adviser to run the sale process.
The deal coincides with Blue Capital's increasing focus on assets that address environmental challenges or incorporating social and corporate governance factors into each facet of investment decision-making. For more, see PE Firms Focus on ESG.