Joshua Adds-on to Precision Machining Platform

Joshua Partners has completed an add-on acquisition for its portfolio company Precision Engineered Technologies with the buy of Ray Industries.

Ray Industries is a maker of precision parts and components for the aerospace, defense, medical, industrial and energy industries.  The company specializes in using a technique called roll-threading.  This technique forms a thread on a metal part using a roller die rather than through the more traditional method of metal cutting or grinding.  Rolled threads have a smoother surface and are stronger than threads made with other methods.  Ray Industries is headquartered west of Milwaukee in Waukesha, WI (www.rayindustries.com).

“Ray Industries is a great strategic fit into our Power Generation group and allows us to bring that market a complete machining solution.  Roll threading is the most cost efficient way to produce a thread and typically yields parts that are 30% stronger than a thread that is cut into material,” said Brian Murray, President of Precision Engineered Technologies.

“Raymond Fish and his team have built Ray Industries into a world class provider of high tech precision machined components utilizing state of the art roll-threading technologies developed by the company over the past 40 years,” said Charles Corpening, Chairman and Founder of Joshua Partners.  “The acquisition of Ray Industries provides Precision additional customer diversification while helping to accelerate our internal growth initiatives in existing markets through greater scale and capability.”

According to Mr. Murray, Precision Engineered Technologies and Joshua Partners are very active pursuing acquisitions of additional precision machining companies.

Joshua Partners makes control investments in businesses with revenues of $10 million to $100 million across an array of industries. Joshua Partners is led by its founder Charles Corpening. The firm was founded in 2007 and is based in Newton, PA (www.joshuapartners.com).

2015 PEPD • Private Equity’s Leading News Magazine • 5-4-15