San Diego-based Plansee Thermal Management Solutions has recently been acquired by a private investor group led by The Courtney Group of Newport Beach and Pegasus Capital Group of Santa Monica.

The value of the transaction was not disclosed.

Plansee, now known as Santier, will continue to design and manufacture custom components from engineered materials for microelectronics out of its facilities on Carroll Canyon Road. Santier produces components, device packages and assemblies for companies in the aerospace, defense, telecommunications and medical markets.

The Courtney Group President Tom Courtney, who is also a director and owner of Santier, said Plansee’s parent company, Reutte, Austria-based Plansee SE, a privately owned $2 billion company with more than 6,000 employees worldwide, originally bought Plansee Thermal Management Solutions because the parent company fit very well with the materials PTMS was then using, but over time the PTMS business shifted to using other materials that are not as closely related to the parent company.

“In recent years, the focus of the PTMS activities has shifted away from the core competencies of the Plansee Group,” said Plansee SE President Bernhard Schretter. “Therefore, Plansee SE was looking for a new owner who is able and willing to further develop this promising business much better than we can do.”

Courtney said the new owners intend to expand Santier and add more jobs.

“We have ideas on how to improve the business and invest in the business to increase its capabilities,” said Courtney, adding that they will be coordinating with Steve Kaye, a director and investor who has a strong background in leading technology companies and was previously CEO of eInstruction, Centice and GTCO Calcomp.

The Courtney Group and Pegasus Capital Group have an interest in buying other businesses in California, according to Courtney, who said The Courtney Group has bought or invested in 18 companies since 2000, and Pegasus has a history of acquiring nine companies. Courtney said the company’s strategy oftentimes is to buy a division that isn’t a fit with the parent company or to buy businesses from entrepreneurs or owners as part of a retirement or succession plan.