In a strategic move, Cathay Capital has acquired Check Technology, a Troy, Michigan-based manufacturer of heating and control systems. The acquisition was backed by Innovative Motion Technologies (IMT), an industrial technology platform specializing in interface and control solutions.
The partnership between Check Technology and IMT is expected to bring enhanced capabilities and extended market reach for Check Technology under the IMT umbrella. With Cathay Capital managing over $5.4 billion in assets and investing in the middle market since 2007, the acquisition of Check Technology adds to their portfolio of successful investments.
Mark Woods, a partner at Cathay Capital, expressed excitement about the acquisition in a statement. He highlighted the considerable management and operating resources at IMT that will support Check Technology’s growth opportunities. With IMT’s focus on attractive and growing end markets, this acquisition aligns with Cathay Capital’s focus on investing in companies with high growth potential.
Check Technology, founded in 1993, has now become a part of the IMT family under the ownership of Cathay Capital. The collaboration between these companies is set to create new opportunities for innovation and expansion in the industrial technology sector.
