Balmoral Advisors is pleased to announce that Advanced Diamond Technologies has sold its Industrial Division to John Crane. Balmoral served as financial advisor to Advanced Diamond Technologies.
Advanced Diamond Technologies, Inc. (ADT), a leader in the development and application of diamond films for industrial, electronic, mechanical and medical applications, has sold its Industrial Division to John Crane, Inc. (John Crane). The transaction closed on April 17, 2019.
The Industrial Division of ADT developed unrivaled expertise in proprietary materials that capture the properties of natural diamond using chemical vapor deposition. Broadly referred to as ultrananocrystalline diamond (UNCD®) technology, this product is a thin-film diamond material grown through a proprietary chemical vapor deposition process.
Terms of the transaction were not disclosed. Balmoral Advisors served as sellside M&A advisor to ADT.
ADT harnesses the superlative properties of nature’s perfect material by turning natural gas into diamond in a highly controlled, reproducible process for a variety of industrial, electronic and medical applications. ADT offers several families of high performance UNCD products that take advantage of the unsurpassed properties of diamond. For more information visit www.thindiamond.com.
About John Crane
John Crane is a global leader in rotating equipment solutions, supplying engineered technologies and services to process industries. The company designs and manufactures a variety of products including mechanical seals and systems, couplings, filtration systems and predictive digital monitoring technologies. John Crane customer service is accessed through a global network of more than 200 sales and service facilities in over 50 countries. Fiscal year 2018 revenue was greater than 1.1 Billion USD (£881m). John Crane is part of Smiths Group, a global leader in applying advanced technologies for markets in threat and contraband detection, energy, medical devices, communications, and engineered components.