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MCM Capital buys optical filter/coating manufacturer Andover

Cleveland-based microcap private equity firm MCM Capital Partners picked up a majority stake in Salem, N.H.-based Andover Corp.

The acquisition, the terms of which were not disclosed, was conducted in partnership with Andover President John Cotton and the executive management team.

Andover is the fifth investment in the MCM Capital Partners III LP platform. It provides thin film optical coatings and filters to global companies in the aerospace and defense, semiconductor, environmental, medical device, astronomy and instrumentation sectors.