Check Technology, a manufacturer of heating and control systems based in Troy, Michigan, was founded in 1993. In recent years, the company has been acquired by Innovative Motion Technologies (IMT), an industrial technology platform that specializes in interface and control solutions. The financial terms of the acquisition were not disclosed.
IMT is backed by Cathay Capital, which has grown to manage over $5.4 billion in assets since its founding in 2007. This strategic move aligns with Cathay Capital’s focus on growing end markets and leveraging resources for growth.
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 move aims to capitalize on attractive markets and utilize management and operating resources to drive growth for Check Technology.