Advanced Precision Products (APP), led by CEO Jeff Buck, is a manufacturer of components and products used by original equipment manufacturers in the oil & gas, medical, aerospace, automotive, military and commercial sectors. The company is headquartered north of Hartford, CT in Palmer, MA with additional facilities in Hingham and Franklin, MA (www.advancedprecisionproducts.net).
“Jeff and his management team have done an exceptional job at building APP into one of the leading precision component manufacturers,” said Bruce MacRae, Hastings’ Managing Director. “Through the acquisition and integration of four companies, Jeff has created a robust manufacturing platform.”
Hastings invests from $5 million to $20 million in lower middle-market energy services and equipment businesses that have trailing EBITDA from $4 million to $15 million. The firm was founded in 2004 and is based in Waltham, MA (www.hastingsequity.com).
“We’ve really enjoyed working with the Hastings team and appreciate its support and guidance over the years,” said Mr. Buck. “We expect APP’s growth to remain strong and look forward to being part of Precision Engineered Products where we can leverage their resources to further build on our success.”
Trudeau & Trudeau Associates (www.trudeau-trudeau.com), a Boston-based business intermediary, served as financial advisor to APP and Morse, Barnes-Brown & Pendleton (www.mbbp.com) served as legal counsel to the shareholders of APP.
2014 PEPD • Private Equity’s Leading News Magazine • 9-5-14