BOSTON, MA - Headwaters MB advised Cuming Microwave, a supplier of microwave absorbent materials for military aircraft and other applications, on its sale to PPG Industries, a global leader in aircraft coatings and transparencies.
The acquisition enhances PPG’s portfolio of aerospace coatings with specialty coatings and materials that absorb microwaves and radio waves, such as radar. The products are used for military aircraft and also have applications in electronics, telecommunications, medical and automotive end-uses.
“This symbolizes both the strong outlook and renewed interest in the Joint Strike Fighter F-35 program - the dominant military aircraft program for the coming decades; and the premium position Cuming Microwave has achieved," said Ian Cookson, Managing Director at Headwaters MB.
“Ian Cookson was a trusted advisor - his insight and perseverance were vital to getting the deal done, and I was very pleased with the end result,” said John Cuming, Cuming Microwave's former majority owner.
Headwaters MB acted as financial advisor to Cuming Microwave. Terms of the transactions were not disclosed.