April 27, 2012 – Promus Equity Partners has acquired Quality Control Corp., a precision machining and assembly services provider. As part of the transaction, Quality Control Corp has been renamed QCC and will continue to operate independently under the same leadership team. This transaction marks the third investment by Promus Equity Partners in the past twelve months.
“I am very proud of the 60-year legacy created by this family-owned business and what the team has accomplished at QCC over the years. Promus is an ideal partner for us as we enter this next stage in our development because they see the value in our top-notch team and can provide additional support for the accelerated growth we desire,” said Greg Willard, QCC’s President and CEO.
Quality Control Corp. is a manufacturing services provider specializing in the manufacture, assembly and testing of complete products and assemblies, as well as precision-machined components for aerospace, diesel fuel systems, medical, defense, and fluid power applications. QCC allows original equipment manufacturers of hydraulics, fluid power and aerospace products to focus on their primary product lines and core competencies by outsourcing non-core or legacy-stage manufacturing and assembly requirements. QCC’s customers include original equipment manufacturers, distributors and the U.S. government. The company was founded in 1951 and has more than 120,000 square feet of production capacity in four facilities. QCC is based in Harwood Heights, IL (www.qccorp.com).
“We are thrilled to become partners with Greg Willard and the entire QCC team. Among the many notable attributes of the company, we are especially impressed with their strong customer relationships and the proven capabilities of the management team and workforce,” said Sarah Wuellner, a partner at Promus.
Grace Equity, an independent sponsor based in Chicago, partnered with Promus to complete the transaction. Aldine Capital and First Capital Partners provided mezzanine debt and participated in the equity investment. Cole Taylor provided a senior credit facility.
Promus Equity Partners is a private equity investment firm affiliated with Promus Holdings, a multi-family asset management firm with approximately $500 million under management among its affiliated entities. Promus targets lower-middle market companies with EBITDA of $10 million or less. The firm is based in Chicago, IL (no website found).
