Move will facilitate ongoing growth of St. Albans firm
Superior Technical Ceramics, based in St. Albans, Vermont, has been acquired by Artemis Capital Partners, a private equity firm founded in 2010 and based in Boston, Massachusetts. The firm invests exclusively in differentiated industrial technology companies operating in the aerospace, automotive, defense, energy, industrial automation, scientific and research, and medical sectors.
Superior Technical Ceramics has been recognized as an innovator in advanced ceramic technologies since its founding in 1898. The company's products offer a distinct set of properties that make them ideal for use in a diverse range of technical applications, including high heat, corrosive environments, thermal management challenges, mechanical wear problems, electrical insulation requirements, and high temperature/pressure conditions.
The privately held company has 162 employees, who work in a campus encompassing 135,000 square feet of manufacturing space.
"We are excited about partnering with Artemis. By combining STC's strong operating team with Artemis' strategic ownership, the Company is poised for a new era of growth and innovation. Most importantly, our customers can count on a seamless transition and our unwavering focus on performance, quality, and service," said Superior Technical Ceramics president John Goodrich. "We are committed to staying in St. Albans, where we will continue to make decisions locally, pursue further job growth, and be an active member of the local community, and the greater Vermont economy."
"From the first day we visited STC, we saw a Company with all the hallmarks of scalable growth – a customer-centric culture; technical advantages spanning both materials and processes; a passion for applications engineering; and a motivated team, hungry for partnership. STC's dual commitment – to customer and technology – perfectly fits our investment model," said James F. Ward, Principal at Artemis and new Board member at STC.
Peter A. Hunter, Managing Partner at Artemis and new Board member at STC, agreed: "STC's capabilities speak for themselves and we plan to further invest in the Company's people, technology, equipment, and partnerships to realize STC's full potential as a world-class player in the advanced ceramics market – from right here in Vermont."
Under Artemis's ownership, STC will continue to operate as an independent company from its headquarters in St. Albans, VT. Needham & Company acted as financial advisor to STC in the transaction.