The Crest Group, backed by Stellex Capital Management, has acquired Dukane, a St. Charles, Illinois-based manufacturer of advanced ultrasonic solutions and plastic joining technologies, for undisclosed terms. Crest is an industrial technology manufacturer with operations in the US, Europe, and Asia.

Mike Johnston serves as CEO of Dukane, which was founded in 1922 as Operadio. Ray Whiteman, co-founder and managing partner at Stellex, said Dukane has built a strong business and that Stellex's operationally focused value creation model is well suited to scaling specialized industrial businesses like Dukane.

Stout served as exclusive financial advisor and Paul Hastings as legal counsel to Dukane. Morrison & Foerster LLP served as legal counsel to Crest. The combined platform aims to support the next chapter of growth for both companies.