Adcole Corporation (“Adcole”), a manufacturer of ultra-precision industrial measurement systems and satellite sun sensors, has been acquired by Artemis Capital Partners.
Founded in 1957 and headquartered in Marlborough, Massachusetts, Adcole is the world’s leading designer and manufacturer of Cylindrical Coordinate Measuring Machines (“CCMM”) used for the precision gauging of cylindrical objects. Common applications for Adcole systems include close tolerance cylindrical machined components in automotive, industrial and commercial engines such as camshafts, crankshafts and pistons. Adcole CCMMs are in use with more than 500 major automotive suppliers and industrial companies spread across 31 countries around the world and are used in all phases of the manufacturing process from inline production testing to laboratories. In addition to its headquarters in Massachusetts, Adcole serves its customers from locations in Michigan, Germany, Japan and China.
Adcole is also a leading supplier of high precision sun sensors for space applications. Adcole sun sensors measure the angle of the sun and provide spacecraft and satellites with their exact orientation in space, allowing onboard systems to position the spacecraft, point instruments or control the angle of solar arrays. Adcole sun sensors are in use aboard a broad array of Low Earth, Medium Earth and Geostationary satellites, and NASA exploration vehicles.
Artemis Capital Partners is a Boston, Massachusetts based private equity group focused on the acquisition and growth of leading industrial automation and technology businesses.
Terms of the transaction were not disclosed. Philpott Ball & Werner, LLC served as exclusive adviser to Adcole.