SAN DIEGO — Structural strengthening specialist Composite Solutions Inc. of San Diego has retained two finance firms to raise $20 million for acquisitions in the next 12-18 months.
CSI retained the New Canaan, Conn., office of AF Capital, and Ace International Domaine of San Ramon, Calif., CSI Chairman Gilbert Hegemier said in a telephone interview.
In November, Prime Industrial Co. Ltd. of Seoul, South Korea, invested $2 million in the firm. CSI acquired Penultimo Inc., doing business as Anchor Reinforcements of Huntington Beach., Calif., in August and Trans-Science Corp. of San Diego in July.
Hegemier had been Trans-Science's president and chief executive officer since 1980. He has been at the University of California, San Diego, since 1968 and is a professor of structural engineering.
CSI aims to market technology licensed from UCSD. Mostly, the work involves fiber-reinforced polymer composites often used as overlay materials.