CPI International
CPI International is a United States-based holding company for Communications & Power Industries, a manufacturer and rebuilder of high-power electron devices, especially vacuum tubes.
Last updated August 26, 2026
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Overview
CPI International is a United States industrial technology holding company associated with Communications & Power Industries, a manufacturer and service provider specializing in electron devices and related high-power radio-frequency technologies. Its principal activities center on the design, manufacture, rebuilding, and servicing of vacuum tubes and other electron devices used in broadcasting, radar, medical equipment, scientific systems, communications infrastructure, and other demanding applications. The company was established in 1995 after Varian Associates sold its electron-device business. That business represented Varian's original area of activity, while Varian subsequently focused more heavily on medical systems. CPI therefore inherited a substantial technical and manufacturing heritage in high-power electronic devices rather than being created as a start-up with a newly developed product category. The company operated through a collection of specialized businesses, including Eimac, Econco, Beverly Microwave Systems, and Radant Technologies. Eimac is the best-known operating name within the group. It manufactures new vacuum tubes and related electron devices for broadcasting, radar, medical systems, and other applications. Econco focuses on the rebuilding and remanufacturing of power tubes, including Eimac and Machlett products, extending the usable life of expensive devices and supporting customers that operate installed equipment. Beverly Microwave Systems and Radant Technologies broaden the group’s capabilities into microwave and other specialized electronic technologies. CPI International became a public company through an initial public offering in April 2006. Its public-market period ended when an affiliate of Veritas Capital acquired the company in February 2011 for approximately $525 million. Following that transaction, CPI International ceased trading on the Nasdaq stock exchange. In July 2017, Odyssey Investment Partners acquired CPI, placing the company under another private-equity owner. The company’s business is primarily industrial and business-to-business rather than consumer-facing. Its products are typically sold to equipment manufacturers, broadcasters, government and defense-related users, medical-technology companies, and operators of communications or scientific systems. The value proposition is based on specialized engineering, long product lives, high reliability, replacement availability, and refurbishment expertise in markets where electron devices can be mission-critical and difficult to substitute. In fiscal 2018, CPI employed approximately 2,000 people and reported approximately $492 million in sales. The available reference material does not establish a current revenue figure, current executive roster, or a definitive corporate website, so those fields are left unspecified. CPI International is best understood as the corporate holding structure behind a portfolio of specialized electron-device and microwave-technology businesses, with Eimac and Econco providing particularly visible manufacturing and rebuilding capabilities.
History
CPI International was formed in 1995 when Varian Associates divested its electron-device business. Varian's electron-device operations were historically significant because they represented the original business of the company’s founders. The divestiture allowed Varian to concentrate on medical systems while transferring its vacuum-tube and related technology activities into a separate corporate structure. The new company developed as a holding company for specialized operating businesses rather than as a single consumer brand. Its portfolio included Eimac, a manufacturer of new vacuum tubes for broadcasting, radar, medical systems, and other applications; Econco, a rebuilding and remanufacturing business; Beverly Microwave Systems; and Radant Technologies. This portfolio combined original equipment manufacturing with aftermarket service. The combination was strategically important because many high-power electronic systems depend on specialized tubes and related devices that have long service lives, high replacement costs, and demanding performance requirements. Econco’s activities included remanufacturing Eimac and Machlett power tubes. Rebuilding these devices gave operators an alternative to purchasing new tubes and supported the continued operation of legacy broadcast, communications, radar, medical, and other equipment. Eimac’s manufacturing role complemented that service business by supplying new devices and maintaining a recognized technology base in high-power electron devices. CPI International entered the public markets in April 2006 through an initial public offering. The public-company phase lasted until February 2011, when an affiliate of Veritas Capital acquired the company for approximately $525 million. After the acquisition, CPI International ceased trading on Nasdaq and returned to private ownership. A further ownership transition occurred in July 2017, when Odyssey Investment Partners acquired CPI International. The transaction continued the company’s private-equity ownership model. Available reference material does not specify the transaction structure or the identities of the executives responsible for the company during these ownership periods. By fiscal 2018, CPI employed approximately 2,000 people and generated approximately $492 million in sales. Its activities remained focused on specialized electron devices, microwave technologies, and rebuilding services for industrial and institutional customers. The company’s markets included broadcasting, radar, medical systems, communications, and other applications requiring high-power or high-reliability electronic components. CPI International’s history is consequently defined by the separation of a long-established Varian technology business, expansion through specialized subsidiaries, a period as a public company, and subsequent ownership by private-equity firms.
- 2018
Reported workforce and sales
[1]CPI employed approximately 2,000 people and generated approximately $492 million in sales in fiscal 2018.
- 2017
Acquisition by Odyssey Investment Partners
[1]Odyssey Investment Partners acquired CPI International in July 2017.
- 2011
Acquisition by a Veritas Capital affiliate
[1]An affiliate of Veritas Capital acquired CPI International in February 2011 for approximately $525 million, after which the company was no longer traded on Nasdaq.
- 2006
Initial public offering
[1]CPI International completed its initial public offering in April 2006.
- 1995
CPI International is established
[1]Varian Associates sold its electron-device business, creating CPI International as a separate holding company focused on electron devices and related technologies.
Products and positioning
A specialized industrial technology group serving high-reliability communications, broadcasting, radar, medical, scientific, and other demanding applications through new electron devices, microwave technologies, and power-tube refurbishment.
Vacuum tubes and electron devices
Eimac
Eimac is CPI’s principal new-device manufacturing business and produces vacuum tubes and related electron devices for broadcasting, radar, medical systems, and other specialized applications. Its products serve systems in which high power, reliability, and compatibility with established equipment are more important than mass-market volume. Eimac’s role also complements CPI’s rebuilding business by providing new devices alongside aftermarket support.
Power-tube rebuilding and remanufacturing
Econco
Econco rebuilds and remanufactures power tubes, including Eimac and Machlett products. The service extends the operating life of high-value electron devices and helps customers maintain legacy or installed systems without relying exclusively on new replacements. Its work supports the aftermarket side of CPI’s business across broadcasting, communications, radar, medical, and other equipment environments.
Microwave systems and components
Beverly Microwave Systems
Beverly Microwave Systems is identified as one of CPI International’s major subsidiaries. It contributes microwave-oriented products and capabilities to the group’s portfolio, broadening CPI beyond conventional vacuum-tube manufacturing and supporting specialized communications, defense-related, scientific, and industrial applications.
Specialized electronic and microwave technologies
Radant Technologies
Radant Technologies is a major CPI International subsidiary associated with specialized electronic and microwave technologies. Its inclusion in the group reflects CPI’s broader role as a supplier of high-performance components and systems for demanding technical applications rather than solely as a vacuum-tube manufacturer.
Brand decisions
2017
Transfer ownership to Odyssey Investment PartnersM&ABackground
CPI remained under private-equity ownership after its 2011 take-private transaction.
Action taken
Odyssey Investment Partners acquired CPI International in July 2017.
Aftermath
Odyssey became the company’s subsequent private-equity owner.
2011
Accept acquisition by a Veritas Capital affiliateM&ABackground
CPI International moved from public ownership into a private-equity transaction.
Action taken
An affiliate of Veritas Capital acquired CPI International for approximately $525 million in February 2011.
Aftermath
CPI ceased trading on Nasdaq and operated as a privately held company.
Acquisition price. $525 million (February 2011)
2006
Pursue public ownershipOtherBackground
After operating as a private company since its formation, CPI International entered the public capital markets.
Action taken
CPI completed an initial public offering in April 2006.
Aftermath
The company traded on Nasdaq until its acquisition in 2011.
1995
Separate the electron-device business from VarianStrategyBackground
Varian Associates chose to concentrate on medical systems and sold its historically foundational electron-device business.
Action taken
The electron-device operations were organized under CPI International as a separate holding company.
Aftermath
CPI inherited established vacuum-tube manufacturing and rebuilding capabilities and developed a portfolio of specialized subsidiaries.
Recent events
- Unconfirmed
CPI completes acquisition of SATCOM Technologies business[2]
Communications & Power Industries completed the purchase of SATCOM Technologies, the antenna systems business of General Dynamics Mission Systems. The acquired business will be owned and operated as a CPI subsidiary.
CPI completes acquisition of SATCOM Technologies[3]
Reported:
Communications & Power Industries (CPI) completed its purchase of SATCOM Technologies, the antenna systems business of General Dynamics. CPI said the acquired business would be called CPI Satcom & Antenna Technologies Inc. and operated as a CPI subsidiary.
CPI completes acquisition of SATCOM Technologies[4]
Reported:
Communications & Power Industries completed its purchase of SATCOM Technologies, the antenna systems business of General Dynamics Mission Systems. The acquired business will be owned and operated as a CPI subsidiary.
Sources4 sources
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