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Mirus advises ASE Holdings on sale of Celtech subsidiary to Atec, Inc.

Atec, Inc. has acquired Celtech Corporation of Carlsbad, New Mexico from ASE. Celtech will continue to operate in Carlsbad as a wholly-owned subsidiary of Atec, a 60 year-old company based in Stafford/Houston, Texas. Mirus Capital Advisors represented ASE Holdings and Tonka Bay Equity Partners on the transaction.

“Atec has strengthened its global leadership of the Military Intermediate Jet and Turboshaft Engine Test Stands business by purchasing Celtech Corp. Celtech’s renowned ancestry involving Page Avjet Support Equipment, Knight Aerospace Products, Space Corp and ASE brings a wealth of stock listed products, Intellectual Property, experienced personnel and customer relationships to our company,” offered Paul Fenley, President of Atec, Inc.

“Atec’s recent contract with the USAF (WRALC) for 5 year IDIQ task support of T20 & T21 test stands worldwide will see the benefits of streamlining for field operators and procurement agencies from this new affiliation. ASE will support us during the transition period to insure quality equipment, project success and responsive service for our important customer base,” Fenley added.

Celtech specializes in the design, fabrication, and integration of turbojet and turboprop mobile engine test stands and electronic systems. Celtech has over 300 installed systems worldwide, with 70,000 square feet of production facilities on a 10 acre corporate campus in the Carlsbad Airport Industrial Park.

Atec, Inc. provides turbine engine test facilities, along with precision manufacturing services for aviation and space flight components. The company’s expertise in upgrading and repairing engine test cells/stands, modular facilities, utilities subsystems, METS, fuel systems, adapter kits, and data acquisition & control systems is provided by 100+ employees, including over 30 engineers. Atec’s services include 5-Axis CNC machining, Electrical & Electronics design including programming, and Aero & Mechanical design including CFD/FEA. Atec’s Field Service group provides services to user locations around the globe. Atec delivers quality products and services on time to Aerospace Primes, DOD, Allies, Airlines, MROs and Energy Service Firms worldwide. The company is 60 years old and certified to AS9100C and ISO 9001.

“Our combination with Celtech offers Intermediate Aviation Engine Test System users a stronger, more efficient provider-partner with a bigger menu of products & services,” Atec Chairman, Howard Lederer, stated. “We will also expand our Energy Service product production in Carlsbad for our growing oil patch customer base.”

Atec has corporate initiatives in power conservation and regeneration, community organization involvement, veterans hiring, industry associations and STEM education.

About ASE

ASE Holdings is a leading provider of aerodynamic testing solutions and large test cells to the global aerospace, defense, research and industrial turbine engine markets. The Company’s Celtech subsidiary designs and manufactures mobile test stands for aircraft engines, primarily for the U.S. and foreign militaries.

About Mirus Capital Advisors

Mirus Capital Advisors provides investment banking solutions to corporate clients in technology, business services, manufacturing, consumer products, health care and the resort & hospitality industry. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations. For additional information, visit www.merger.com.

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