FAIRLAWN, NJ — United States Technologies-Aldetec Holding Company (“UST-Aldetec”), a portfolio company of Cornerstone Capital Holdings, announced today its asset purchase of Pioneer Magnetics Inc (“PMI”), a Santa Monica-based company that specializes in the design, engineering, development, testing and manufacture of state-of-the-art switching power supplies for commercial telecommunications and defense platforms. PMI’s power supply business is highly complementary to UST-Aldetec’s product and service portfolio and strengthens the company’s position in the power supply market.
Commenting on this transaction, UST-Aldetec CEO Robert Ferrante stated “the transaction accelerates and dramatically expands our market presence for the design and manufacture of high quality switching power supplies. Adding this capability to our current portfolio allows UST-Aldetec to design and manufacture from aperture to processor with all the necessary subsystems to support our OEM customer base. This purchase helps expand our position as a growing industry leader with the scale, customer relationships, innovative products and technology to drive exceptional growth and a clear path forward.”
Gary Grutkowski, UST President, added “the Pioneer Magnetics family of power supplies is entirely synergistic with UST’s capabilities and long history of power supply manufacture and repair. By strengthening our library of designs in this way we can serve a larger and more diversified group of customers.”
About UST-Aldetec
UST-Aldetec is a global provider of manufacturing, design, engineering, repair and testing services for both military and commercial customers. Our combined expertise includes RF detection, frequency conversion, broadband amplification, power management, and repair/re-engineering of subsystems for obsolescence mitigation and life cycle extension. Our teams can design, manufacture and support many products seamlessly with average turn times of less than six months. Our goal is to provide exceptional quality to our customers to maximize their uptime and operational efficiency. UST-Aldetec maintains AS9100 as well as small business certifications.
About Cornerstone
Cornerstone Capital Holdings is a diversified holding company comprised of leading manufacturing and industrial service businesses. Cornerstone companies serve the aerospace, defense, space and various industrial markets from ten locations throughout the United States. Founded in 2000, Cornerstone has grown both organically and through multiple, targeted acquisitions.
Direct all inquiries to:
Andrew Bushell
abushell@cstonecapital.com
(310) 499-5670
