US-based Trive Capital’s portfolio company Karman Space & Defence has acquired the MG Resin family of technologies from Cornerstone Research Group (CRG).
The financial details of the deal have not been disclosed by the companies.
MG Resins includes a proprietary portfolio of high-temperature materials, which are used in hypersonic flight vehicles.
The solution developed by CRG will enable the production of high-strength carbon-carbon parts at temperatures exceeding 1,200°C.
Karman CEO Tony Koblinksi said: “CRG’s MG Resin systems will allow Karman to offer highly differentiated high-temp materials solutions to our customer base.
“The MG Resin carbon-carbon technology, along with other CRG-developed resin systems, will serve as the launch point for Karman’s broader move into advanced material sciences.”
CRG’s Mach 5 Materials is the exclusive commercial provider of the MG family of resins and high-temperature and high-char yield products range.
With the latest transaction, Mach 5 Materials will wind down, while the remainder of CRG’s work throughout its technology portfolio will remain same.
Besides, CRG will continue to conduct research, development, test and evaluation activities on MG Resins to support Karman’s production and scale-up capabilities.
CRG CEO Patrick Hood said: “We are excited to partner with Karman and believe that their set of differentiated capabilities, capacity, and talented team makes them the right strategic partner to deliver the MG Resin value proposition to customers across the space, missile, defence and hypersonic supply chains.”
Haynes & Boone was the legal counsellor for Trive Capital while Monument Capital Partners advised CRG.
