Precision Aerospace, a provider of metal assemblies for aerospace and industrial applications, has been acquired by Willcrest Partners and Curran Companies, two operationally focused family offices.
Precision Aerospace is a supplier of machined sheet metal fabrications, including welded and mechanical assemblies, that are used in the aerospace industry, primarily for engine and exhaust applications. Specific product examples include welded and mechanical assemblies, metallic ducting for high- and low-pressure applications, exhaust assemblies, oil tanks and reservoirs, combustors, heat shields, and mixer nozzles. The company, led by President Marshall Hodge, was founded in 1976 and is headquartered in Phoenix, AZ (www.precisionaerospace.com).
“Since joining Precision in 2018, I have been refining processes, implementing software, and expanding the team to handle our growing backlog,” said Mr. Hodge. “I am excited to partner with Willcrest Partners and Curran Companies to continue growing the business and take Precision’s manufacturing excellence and engineering capabilities to the next level.”
“Willcrest Partners and Curran Companies share a long-term orientation that emphasizes extensive investment in people, processes, and systems. We are excited to partner with Marshall Hodge and the team at Precision to expand the company’s capabilities to meet our customers’ exacting standards. With Precision’s excess capacity, our goal is to find the most talented people in the industry to expand while staying truly customer-focused,” said Ben Krick, a partner at Willcrest.
Willcrest Partners invests capital from family office investors in Western US-based companies that have from $1 million to $5 million of EBITDA and are active in the business services, financial services, healthcare services or specialty manufacturing sectors. The firm was founded by Ben Krick and Bret Forster and is headquartered in San Francisco, CA (www.willcrest.com).
Curran Companies is a family office that makes control investments of $1 million to $20 million in lower middle market companies across a range of industries. The firm is led by Wiley Curran and Pat Curran and is headquartered in Kansas City, MO (www.currancos.com).
© 2019 Private Equity Professional | April 25, 2019