Domaille Engineering, a platform company of Thompson Street Capital Partners (TSCP) and Onward Capital, has acquired Tech Manufacturing. TSCP and Onward Capital acquired Domaille Engineering in November 2016.
Tech Manufacturing specializes in CNC precision machining of complex 5-axis structural aerospace parts made of aluminum, steel, titanium, or other materials. The company’s products are used in the airframes of commercial, military and business aircraft and its customers include aerospace OEM manufacturers and Tier 1 suppliers. Tech Manufacturing has over 70 employees and is based west of St. Louis in Wright City, MO (www.techmanufacturing.com).
Domaille Engineering operates through two divisions. The company’s optical products division designs and manufactures polishing machines and fixtures, inspection equipment and other products that are used in fiber-optic cable applications. The precision services division engineers and manufactures complex, mission-critical products for the defense, aerospace, national security, telecommunications, energy and medical sectors. Domaille is led by CEO Tim Kanne and is headquartered in Rochester, MN (www.domailleengineering.com).
“We have been very impressed with Tech Manufacturing, not just with their unique capabilities and skillsets, but with their management and staff,” said Jim Cooper, Managing Partner of TSCP. “The company’s reputation for excellence from a product and service standpoint is known industry-wide. This represents a strong addition to the Domaille family with opportunistic growth, and TSCP is proud to welcome them.”
Thompson Street Capital Partners makes investments in companies with annual revenues between $20 million and $200 million and EBITDA between $4 million and $15 million. Since its founding in 2000, Thompson Street has acquired more than 100 companies in the business services, healthcare services and engineered products sectors. The firm held a final close of Thompson Street Capital Partners IV LP with $640 million of capital commitments in December 2015. Thompson Street is based in St. Louis (www.tscp.com).
“Onward Capital is extremely pleased to add Tech Manufacturing to the Domaille brand. With this partnership, we will continue to seek complementary acquisition opportunities for the combined platform,” said Marcus George, a Partner at Onward Capital.
Onward Capital invests in manufacturing and value-added distribution companies with revenues between $15 million and $100 million and EBITDA between $3 million and $10 million. The firm was founded in March 2015 by Marcus George and Laura Lester and is headquartered in Chicago (www.onwardcapllc.com).
© 2018 Private Equity Professional | February 9, 2018
