Precinmac LP, a manufacturer of high-complexity precision components in the Oxford County town of South Paris,\u00a0announced the acquisition of Dallas-based\u00a0Precision Aerospace Holdings LLC, which specializes in the manufacturing of precision machined aerospace, defense and space components.<\/p>\n
The addition of Precision reinforces Precinmac\u2019s focus on expanding its capabilities and increasing capacity for customers in aerospace, defense and space, according to a news release. Terms of the transaction were not disclosed.<\/p>\n
Launched\u00a0in\u00a02022,\u00a0Precision brought together\u00a0Kansas-based Clearwater Engineering and Decatur Machine Services, Icon Machine Co., Applegate EDM and Owens Machine and Tool Co., all in the Dallas-Fort Worth region.<\/p>\n
The Precision companies\u2019\u00a0core capabilities include electronic discharge machining and precision machining.<\/p>\n
More tech capability<\/p>\n
The acquisition of Precision \u201cadds meaningful technical capability and customer alignment\u201d to Precinmac,\u00a0said Eric Wisnefsky, Precinmac\u2019s CEO.<\/p>\n
\u201cThis business complements\u00a0our existing portfolio\u00a0as it also serves high-requirements customers,\u00a0produces\u00a0medium- to high-complexity parts and participates in\u00a0critical long-running programs within the aerospace, defense and space industries,\u201d he said.<\/p>\n
Peter\u00a0Stegmaier, Precision\u2019s CEO, said Precinmac has demonstrated a commitment to investing in advanced equipment to support customer growth and in workforce development.<\/p>\n
With the Precision deal, Precinmac now has nine divisions \u2014 Hoppe Technologies in Chicopee, Mass.; Canadian companies Trimaster Manufacturing and HPG; Maine Machine Products Co. in South Paris; Major Tool and Machine in Indianapolis; Petersen Inc. in Ogden, Utah; Shields Manufacturing in Tualatin, Ore.; Viper Northwest in Albany, Ore.; and Precision.<\/p>\n
Across the portfolio,\u00a0Precinmac\u2019s specialties include precision milling and turning, multi-axis machining, grinding, close tolerance fabrication and complex geometries, supplying a range of prime contractors in the\u00a0aerospace, defense, space, semiconductor, power generation and energy sectors, with integrated manufacturing locations in the U.S. and\u202fCanada.<\/p>\n
Vinson & Elkins LLP in Houston served as legal counsel to Precinmac. Baker Botts LLP in New York served as legal counsel to Precision. Chicago-based Lincoln International LLC served as financial advisor for the transaction.<\/p>\n