Cathay Capital, a company backed by Cathay Capital, has acquired Troy, Michigan-based manufacturer of heating and control systems Check Technology. The financial terms of the acquisition were not disclosed. Check Technology is now part of the IMT family under the ownership of Cathay Capital.
The partnership between Check Technology and IMT is seen as a strategic move by Cathay Capital, as it aligns with their focus on attractive and growing end markets. The acquisition is expected to bring enhanced capabilities and extended market reach for Check Technology under the IMT umbrella.
IMT is an industrial technology platform specializing in interface and control solutions. With their considerable management and operating resources at hand, they will support Check Technology’s growth opportunities. Mark Woods, a partner at Cathay Capital expressed excitement about the acquisition in a statement, highlighting how IMT’s resources will be beneficial to Check Technology’s continued success.
Cathay Capital manages over $5.4 billion in assets and has been investing in the middle market since 2007. The acquisition of Check Technology adds to their portfolio of successful investments. The collaboration between these companies is set to create new opportunities for innovation and expansion in the industrial technology sector.
