Check Technology, a Troy, Michigan-based manufacturer of heating and control systems founded in 1993, has recently been acquired by Innovative Motion Technologies (IMT). The acquisition was backed by Cathay Capital, which has grown to manage over $5.4 billion in assets since its founding in 2007.
IMT is an industrial technology platform that specializes in interface and control solutions. Bringing Check Technology into the IMT family aligns with Cathay Capital’s strategy of focusing on growing end markets and leveraging resources for growth. The financial terms of the acquisition were not disclosed.
Mark Woods, a partner at Cathay Capital, expressed excitement about the acquisition, stating that the enhanced capabilities and extended market reach of Check Technology under the IMT umbrella present significant growth opportunities. This strategic move aims to capitalize on attractive markets and utilize management and operating resources to drive growth for Check Technology.