Affiliates of funds advised by SK Capital Partners, LP (“SK Capital”), a private investment firm focused on the specialty materials, ingredients, and life sciences sectors, together with Edgewater Capital Partners, LP (“Edgewater”), announced today they have entered into an agreement to sell Luxium Solutions (“Luxium” or the “Company”) to Excelitas Technologies Corp. (“Excelitas”), a leading provider of advanced, life-enriching technologies that make a difference, serving global market leaders in the life sciences, advanced industrial, next-generation semiconductor and avionics sectors, and a portfolio company of AEA Investors. This strategic combination will strengthen Excelitas’ technological capabilities and product portfolio, expand its market reach, and advance Luxium’s mission to deliver high-performance detection, imaging, and photonic solutions to customers worldwide. The transaction is expected to close in the next few months, subject to customary closing conditions and regulatory approvals.

“It has been a pleasure working with the Luxium team and Edgewater Capital through this period of significant transformation and growth following the carve-out from Saint-Gobain in 2022,” said Mario Toukan, Managing Director at SK Capital. “Together with Edgewater, we have leveraged our deep technical expertise to drive meaningful improvement and establish Luxium as a global, standalone platform. SK Capital congratulates the Luxium and Excelitas teams on this milestone transaction, which represents a strong outcome for all stakeholders and positions the combined platform for continued growth and innovation.”

“We have greatly valued our partnership with Luxium’s management team and SK Capital in transforming the business over the past few years through a series of strategic initiatives and acquisitions. We are confident that the combination with Excelitas will further accelerate Luxium’s growth as a technology leader in high precision optics and radiation detection,” said Ryan Meany, Managing Partner of Edgewater Capital.

Headquartered in Hiram, Ohio, Luxium Solutions is a global technology leader and provider of high-performance materials and components used across high precision optics and radiation detection applications. Since the acquisition by SK Capital and Edgewater in December 2022, Luxium has achieved meaningful transformation driven by a series of operational and commercial initiatives executed by the management team and the successful integrations of PLX, Inc., and Inrad Optics, both acquired in 2024. These acquisitions expanded Luxium’s technical capabilities in high precision optics and enhanced its ability to deliver integrated, high-value solutions to customers across diverse end markets.

“Luxium has undergone an accelerated systematic transformation with the continued support of SK Capital and Edgewater Capital,” said Michael Cahill, CEO of Luxium Solutions. “During this period, we acquired PLX and Inrad Optics, expanded our footprint in India, and streamlined our operations. In parallel, we have invested in manufacturing improvements with the mission of better servicing our customers. We are excited to join the Excelitas platform, which is well-aligned with our markets, customers, engineering development processes, and global business infrastructure.”

William Blair & Company, LLC and Houlihan Lokey Capital, Inc. are serving as financial advisors, and Latham & Watkins LLP is serving as legal counsel to SK Capital and Luxium. Fried, Frank, Harris, Shriver & Jacobson LLP is serving as legal counsel to AEA Investors and Excelitas in this transaction.

About SK Capital:

SK Capital is a transformational private investment firm with a disciplined focus on the specialty materials, ingredients, and life sciences sectors. The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital currently has approximately $10 billion in assets under management as of December 31, 2024. For more information, please visit www.skcapitalpartners.com.

About Edgewater Capital:

Headquartered in Cleveland, Ohio, Edgewater Capital Partners is a sector-focused private equity firm investing in lower middle-market performance materials and services businesses. The firm has extensive experience investing in the people, technology, and infrastructure to accelerate the growth trajectory of life sciences, specialty industrials, advanced materials, and specialty chemicals businesses. Over twenty-five years of industry-specific investing has allowed the firm to develop a deep understanding of the complexities and nuances common to these businesses. For more information, please visit www.edgewatercapital.com.

About Luxium Solutions:

Headquartered in Hiram, Ohio, Luxium is recognized as a worldwide technology leader and provider of single crystal scintillation materials for radiation detection applications, as well as sapphire and garnet substrates for high precision optics and power electronics. The Company differentiates itself with capabilities and know-how in crystal growth, packaging and integration, and unique intellectual property supported by a portfolio of greater than 170 patents. With 400+ employees across production facilities in the US, France, and India, and sales offices in China and Japan, Luxium serves a global base of 650+ customers across a diverse set of applications across medical imaging, security and border protection, semiconductor, aerospace and defense, oil and gas and other industrial markets. For more information, please visit www.luxiumsolutions.com.

About Excelitas Technologies:

Excelitas is the leading provider of advanced, life-enriching technologies that make a difference, serving global market leaders in the life sciences, advanced industrial, next-generation semiconductor, aerospace, and defense end markets. Headquartered in Pittsburgh, Pennsylvania, Excelitas is an essential partner in the design, development, and manufacture of advanced technologies, offering leading-edge innovation in sensing, detection, imaging, optics, and specialty illumination for customers worldwide. Excelitas is at the forefront of addressing many of the relevant megatrends impacting the world today, including precision medicine, industrial automation, artificial intelligence, connected devices (IoT), and military modernization. For more information, please visit https://www.excelitas.com/.

About AEA Investors:

AEA Investors was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives, and leaders, many of whom invest with AEA as active individual investors, join its portfolio company boards, or act in other advisory roles. Today, AEA's over 120 investment professionals operate globally with offices in New York, Stamford, Jacksonville, San Francisco, London, Munich, and Shanghai. The firm manages funds that have approximately $18 billion of invested and committed capital including the leveraged buyouts of middle market and small business companies, growth equity, and private debt investments. For more information, visit www.aeainvestors.com.

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