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November 7, 2013

Avante Mezzanine Announces Investment in Channel Technologies Group

Los Angeles, CA – Avante Mezzanine Partners announced today it provided subordinated debt and an equity co-investment to Channel Technologies Group (“CTG”), a portfolio company of Blue Wolf Capital Fund II, to support the Company’s recent purchase of H.C. Materials. CTG manufactures piezoelectric ceramics, transducers and complex sonar and navigation systems used in the defense, medical and energy industries. The acquisition of H.C. Materials (“HCM”), a worldwide leader in the development and manufacture of giant-piezoelectric single crystals, strengthens CTG’s advanced materials segment by adding HCM’s cutting-edge piezoelectric solutions. Avante’s investment was made in conjunction with Fidus Investment Corporation, marking Avante’s second investment in partnership with Fidus.

Haranjeet Narulla, Principal at Blue Wolf, said, “When selecting our lending sources it was an easy choice to work with Avante due to their partnership-based reputation and their ability to provide a high level of certainty to close in an expedited timeframe. We expect them to be a key pillar of support as CTG further consolidates its position as a global leader in the ceramic-based piezoelectric industry.”

Jeri Harman, Founder and Partner of Avante, stated “In less than two years Blue Wolf has successfully transformed CTG into a professionally-run, market leading institution. We are excited to support CTG and its management team as the Company enters its next growth phase.” “We also look forward to working with Blue Wolf and supporting future CTG growth initiatives including additional strategic acquisitions,” added Paul Hayama, Principal at Avante.

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