Insight Equity has acquired Midstate Berkshire from Precision Holding, a portfolio company of Cerberus and SAC Capital.
Midstate Berkshire is a provider of precision machining, fabrication and assembly services for the aerospace, defense, power generation, and oil & gas industries. The company has over 200,000 square feet of manufacturing space with the capacity to produce both large and small scale components and has the ability to handle volumes ranging from prototyping to full-scale production. Midstate Berkshire’s operations include more than 100 state-of-the-art, multi-axis CNC machines. The company is headquartered in Westfield, MA (www.berkshireindustries.com).
“Midstate Berkshire has differentiated itself through its ability to deliver complexity, quality and value to its customers. We are looking forward to partnering with its president, Duane Pekar, and the rest of the management team to provide further resources and accelerate the company’s trajectory,” said Victor Vescovo, COO & Managing Partner at Insight Equity.
Insight Equity makes control investments in middle market, asset intensive companies across a range of industries and specializes in partnering with companies experiencing some level of underperformance. Insight Equity also seeks complex and challenging situations, including public to private transactions, corporate divestitures, bankruptcies, restructurings and private family ownership. The firm is based in Southlake, TX (near Dallas) and also has an office in New York (www.insightequity.com).
“Midstate Berkshire is a key supplier of critical parts to companies across several attractive end-markets. We are excited to work with the management team to continue to expand the company’s capabilities and product offerings”, said James Jackson, a Senior Vice President at Insight Equity.
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-27-14
