QCC, a portfolio company of Promus Equity Partners and Grace Equity, has acquired A&K C.N.C. Machining, a manufacturer of metal products. QCC, formerly Quality Control Corporation, was acquired by Promus and Grace in April 2012.
This transaction is the second acquisition of a family-owned machining business by QCC in the past twelve months. “We have a high degree of confidence in the team at QCC and are thrilled to invest in the expanding breadth and depth of the company,” said Sarah Wuellner, a partner at Promus. “We continue to be an active buyer of the specialty machining companies and hope that we will be a preferred option for business owners ready for a transition.”
A&K C.N.C. Machining manufactures high tolerance metal products for the energy, aerospace and medical industries. A&K specializes in build to print production of small and medium size runs of high tolerance metal products made from aluminum, stainless steel, titanium and exotic metals. A&K was founded in 1965 by the late Anton Kastory and has operated as a family owned business under the leadership of his son Frank for the last 15 years. The company is based in the Chicago suburb of Northbrook (no website found).
“I am thrilled that Frank has chosen to entrust us to carry on the legacy of his family business. A&K expands our turning capabilities and adds a group of talented and hardworking machinists to the QCC family,” said Jon Goreham, QCC’s President. “We are excited to build upon the long standing customer relationships at A&K and make the full capabilities of QCC available to them.”
QCC is a provider of manufacturing services and specializes in precision machining, assembling and testing of products and machined components. Through its Qualiseal Technology division the company designs and manufactures custom-engineered mechanical seals for aerospace applications. QCC was founded in 1951 and is headquartered in the Chicago suburb of Harwood Heights (www.qualiseal.com).
Promus Equity Partners is a private equity investment firm affiliated with Promus Holdings, a multi-family asset management firm. Promus targets lower middle market companies with EBITDA’s of $15 million or less. Sectors of interest include consumer products, food & beverage, industrial products, manufacturing services, specialty materials, distribution, and business services. The firm is based in Chicago (www.promusequity.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 1-29-15