Maury Microwave Forms Exciting New Platform for Artemis
BOSTON, July 1, 2021 – On Thursday June 24, 2021, Artemis Capital Partners (Artemis or the Firm) officially announced the successful acquisition of Maury Microwave Corporation (Maury or the Company). Artemis’ RF and Microwave specialists — James Ward, Euan Milne, and Taylor Murphy (the Artemis Team) — worked closely with Maury’s Senior Leadership – Greg Maury, Michael Howo, and Steve Dudkiewicz (the Maury Team) — over the past few months to ensure this exciting outcome.
Maury has been a pioneering leader in the RF and Microwave test and measurement space for almost 65 years. Their technology, at its core serves to ensure the accuracy, consistency, and reliability of instruments commonly used by Original Equipment Manufacturers (OEMs) in the telecommunications, semiconductor, aerospace, defense, instrumentation, and research industries. From “High Speed Tuning” and “Vector-Receiver Load Pull” to “Coaxial Calibration Standards” and “Metrology Adapters”, the industry language can often be obscure and highly technical for those without years of experience in the space.
To put it plainly, Maury’s technology is absolutely essential to ensuring accurate measurements and communications in mission-critical environments like satellite communications and 5G infrastructure. In fact, their expressly stated mission (shared by Artemis) is to “empower [their] customers with state-of-the-art measurement and interconnect solutions that drive the world’s best wireless communication systems.” With strategic partnerships with a variety of industry titans and niche specialists, Maury has a demonstrated history of leading the RF innovation curve and exceeding the requirements of the most demanding customer applications with devices that offer efficiencies up to “100x greater than traditional systems.”
Artemis Principal and Lead on the transaction, Euan Milne, shed some light on how the Company has maintained its leadership position within the highly innovative, highly technical, industry for over 6 decades, saying, “Since the advent of wireless technology itself, Maury Microwave has managed to remain at the forefront of this rapidly evolving tech segment by drawing upon its passion for partnership, leveraging its pioneering heritage , listening to world-class customers and end users, and continuously asking a simple question: what’s next?” The Artemis Team and Maury’s Senior Leadership is confident that their shared vision of a more connected world, passion for innovation, and obsession with customer satisfaction will be the bedrock of this hallmark Artemis platform.
Artemis has a long history within the RF and Microwave industry. One of the Firm’s first investments was KCB Solutions, an aerospace and defense specialist focused on providing solutions for the industry’s most demanding RF and Microwave semiconductor requirements. With over a decade in the space, Artemis has developed a comprehensive thesis-driven approach to the industry and sees an RF infrastructure able to operate with greater efficiency, higher frequency, increased reliability, and tighter tolerances. This partnership is intended to be a small part of the Artemis Family’s contribution to that global vision of connectivity and communication.
Artemis Managing Director and RF Team Lead, James Ward, touched on the future of the business enabled by the Artemis Partners in Growth Operating Model, saying, “After months of collaboration to make this day possible, we now know just how hard-earned Maury’s reputation truly is. We are honored to build upon the Maury family’s rich heritage and partner shoulder-to-shoulder with Maury’s world-class team and customers to accelerate the future of RF.” Mr. Milne expanded upon this statement, saying, “As Maury’s partner in growth, Artemis will work hard to help the Maury team answer that same question in ever-challenging, ever-improving, ways. We will measure our success in doing so through the long-term performance, innovation, and sustainable growth of Maury, its team, and its customers.”
As part of Artemis’ dedication to strategic, value-added, operational techniques, the Artemis Team has already begun to implement plans designed to drive growth, efficiency, and strategic value. Similarly, the company is uniquely positioned in the RF and Microwave industry to engage in significant M&A activities that further strengthen and diversify the Company’s already impressive product and service offering. Please feel free to reach out to anyone on the Artemis Team for more information on the transaction rationale, the Firm’s vision for the Company and the RF industry, or to discuss future investment opportunities.
Founded in 2010, Artemis is a Boston-based private equity firm focused on acquiring and growing manufacturers of differentiated industrial technologies, including analytical and lab instrumentation. Artemis seeks to partner with companies that have strong established management teams, outstanding engineering capabilities, unique products, and expanding niche markets. For more information on Artemis, please visit: www.artemislp.com
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