Denver, CO (July 1, 2015) - Headwaters MB announced that it advised Cuming Microwave, a supplier of microwave absorbent materials for military aircraft and other applications, on its acquisition by PPG Industries, a global leader in aircraft coatings and transparencies. 

The acquisition enhances PPG’s portfolio of aerospace coatings with specialty coatings and materials that absorb microwaves and radio waves, such as radar. The products are used for military aircraft and also have applications in electronics, telecommunications, medical and automotive end-uses.

“This symbolizes both the strong outlook and renewed interest in the Joint Strike Fighter F-35 program - the dominant military aircraft program for the coming decades; and the premium position Cuming Microwave has achieved," said Ian Cookson, Managing Director at Headwaters MB. 

“Ian Cookson was a trusted advisor - his insight and perseverance were vital to getting the deal done, and I was very pleased with the end result,” said John Cuming, Cuming Microwave's former majority owner. 

Headwaters MB acted as financial advisor to Cuming Microwave. Terms of the transactions were not disclosed.


About Headwaters MB
Headwaters MB is an independent, middle market investment banking firm providing strategic merger and acquisition advice, capital raising and special situations advisory. Named "Investment Bank of the Year" by major organizations for its third consecutive year, Headwaters MB is headquartered in Denver, CO with seven regional offices across the United States and partnerships with 18 firms covering 30 countries. For more information, visit

About Cuming Microwave
Cuming Microwave Corporation is a global supplier of Microwave Absorbers, Radar Absorbers, Dielectric Materials, Anechoic Chambers and EMC Chambers for the Aerospace, Defense, Electronic, Telecom, Medical & Automotive Industries. The company offers EMI Absorbers and EMI Suppression Materials for radar cross section reduction, antenna isolation and suppression materials for airborne electronics from tailored urethane, silicone, and flouroelastomer formulations. For more information about Cuming Microwave, please visit

About PPG Aerospace
PPG Aerospace is the aerospace products and services business of PPG Industries. PPG Aerospace – Transparencies is the world’s largest supplier of aircraft windshields, windows and canopies. PPG Aerospace – PRC-DeSoto is the leading global producer and distributor of aerospace coatings, sealants, and packaging and application systems. PPG Industries reported net sales of $15.4 billion in 2014. For more information about PPG Aerospace, please visit


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