Crest Group Acquires Dukane, Forging a Powerhouse in Advanced Manufacturing

NEW YORK, NY – August 18, 2026 – In a significant move set to reshape the industrial technology sector, The Crest Group, a global manufacturer of ultrasonic solutions, has announced its acquisition of Dukane, a leader in advanced plastic joining technologies. The deal, backed by New York-based private equity firm Stellex Capital Management, creates a formidable entity with a comprehensive portfolio aimed at serving mission-critical applications across the medical, automotive, and electronics industries. While financial terms were not disclosed, the acquisition signals a strategic consolidation in the rapidly expanding market for advanced manufacturing technologies.

The merger brings Dukane, headquartered in St. Charles, Illinois, under the umbrella of The Crest Group, uniting two powerhouses in the field of ultrasonic technology. The move is designed to leverage their combined technical expertise, expand their global footprint, and accelerate innovation in automation-enabling solutions.

A Strategic Consolidation in a High-Growth Market

This acquisition is more than a simple business transaction; it represents a calculated consolidation in a market experiencing explosive growth. The global ultrasonic technology sector, valued at over $2.6 billion, is projected to more than double by 2030, driven by increasing industrial automation and the demand for high-precision manufacturing. By integrating Dukane’s specialized portfolio, The Crest Group is positioning itself to capture a larger share of this burgeoning market.

Dukane is renowned for its highly engineered plastic bonding and cutting solutions, which are critical in sectors where precision and reliability are non-negotiable. Its technologies are integral to producing everything from life-saving medical devices to complex automotive components. The Crest Group, already a leader in ultrasonic cleaning and welding, now gains access to Dukane's complementary capabilities, including laser, vibration, and hot plate welding. This creates a one-stop-shop for customers seeking a wide array of high-performance joining and cleaning solutions, posing a significant challenge to competitors like Emerson’s Branson.

“What impressed us most about Dukane was the combination of innovative products, capabilities, and a strong corporate culture,” said Tom Cunningham, Chief Executive Officer of the Crest Group. “We believe their capabilities complement our own and will help us serve customers more effectively as we continue scaling our platform internationally.”

The Stellex Playbook: Fueling Growth Through Operational Expertise

The driving force behind this strategic acquisition is Stellex Capital Management, a private equity firm with over $6.9 billion in assets under management. Stellex is known for its hands-on, operationally focused investment model, targeting middle-market companies with high growth potential. With a typical investment range of $75 million to $150 million in companies valued between $100 million and $500 million, Dukane, with reported annual revenues between $50 million and $90 million, fits perfectly within the firm's strategic focus.

Stellex’s role extends beyond providing capital. The firm actively partners with its portfolio companies to streamline operations, drive innovation, and scale their businesses. This approach is designed to unlock long-term value, and its application here suggests a clear vision for Dukane's future.

“Dukane has built a strong business,” said Ray Whiteman, co-founder and Managing Partner at Stellex. “We believe Stellex’s operationally focused value creation model is well suited to scaling specialized industrial businesses like Dukane, and we are excited to partner further with the Crest and Dukane teams to support the combined platform’s next chapter.”

This sentiment was echoed by Jordan Mondshine, Vice President at Stellex, who noted the strategic fit. “Dukane extends the platform into new end markets with growth potential and adds complementary capabilities in others,” he stated. “Dukane's differentiated technology and global scale create a strong base, and we look forward to partnering with the team in pursuing our shared growth strategy.”

Powering the Future of Manufacturing with Synergistic Innovation

The true impact of this merger will likely be felt on the factory floor. The combination of Crest’s and Dukane’s R&D capabilities is poised to accelerate the development of next-generation manufacturing solutions that support the ongoing shift toward Industry 4.0 and smart factories. Dukane brings an extensive patent portfolio, including its groundbreaking servo-ultrasonic welding systems featuring Melt-Match® technology.

This patented process provides unparalleled control over the welding process, enabling the joining of complex, thin-walled plastic components with exceptional precision and strength. Such technology is indispensable in medical device manufacturing, where it allows for the creation of hermetically sealed, contaminant-free products without the use of chemical adhesives or solvents. In the automotive sector, it enables the welding of painted surfaces without marking, a significant advantage for producing high-quality interior and exterior components. The combined entity's enhanced focus on data collection and traceability within its systems will further support manufacturers navigating stringent regulatory environments, such as FDA compliance.

“This is an exciting new chapter for Dukane,” said Mike Johnston, Chief Executive Officer of Dukane, who will continue to lead the division. “From our first conversations with Crest’s leadership team and the executives at Stellex, it was clear that we share a common vision for the future of the business. Together, we believe we are well positioned to pursue our next phase of growth.”

Integrating for Global Scale and Customer Impact

With manufacturing and service facilities across the United States, Europe, and Asia, the combined company now possesses a truly global footprint. This expanded reach will not only provide significant cross-selling opportunities but also enhance service and support for a worldwide customer base of over 3,500 companies. The leadership has emphasized a commitment to a smooth integration that prioritizes customer needs and maintains the high level of service both companies are known for.

Customers can anticipate access to a more comprehensive and integrated suite of solutions, simplifying their supply chains and providing them with a single, expert partner for their most complex manufacturing challenges. The continuity of Dukane's leadership under CEO Mike Johnston is a strong signal that the company’s deep industry knowledge and customer relationships will remain central to its strategy moving forward.

As industries continue to demand lighter, stronger, and more complex components, the advanced joining and cleaning technologies offered by the newly expanded Crest Group will be more critical than ever, positioning the company as a key enabler of innovation in manufacturing for years to come.