Boston-based private equity firm Artemis Capital Partners recently purchased Beaver Falls-based McDanel Advanced Ceramic Technologies for an undisclosed amount.
McDanel will continue to operate as an independent company located in Pennsylvania.
“As a leader in the middle market for technical ceramics, McDanel has a solid foundation from which to grow and invest in people, capabilities, and capacity, to better serve the needs of our customers in their demanding applications,” Olly Forrer, Artemis principal, said. “We could not be more excited about the future of McDanel.”
McDanel develops and manufactures high-performance advanced tubular ceramics and components used in various industries, including aerospace & defense, aluminum, glass and steel manufacturing and processing, energy, medical, and semiconductors. It also has a range of machining and research and development capabilities.
The company’s ceramics are designed to perform under tight specifications and withstand extreme environments.
“Leveraging Artemis’ experience and track record within Advanced Materials, McDanel represents a highly defensible platform whose mission is to serve its customers with a unique portfolio of high-purity products and excellent service while providing a stable and high-quality environment for employees,” Rudi Coetzee, Artemis operating partner, said.
Artemis focuses on partnering with differentiated industrial tech companies.