Model 2 Machine Group, a portfolio company of Generation Growth Capital, has acquired Atlantic Precision. The existing management team of Atlantic Precision, including Tim Ritter, the president and co-owner, will continue operating the business following the transaction.
Atlantic Precision is a machining, design and build company that utilizes 3D metal printing and additive manufacturing technologies to provide prototyping and low volume production parts that are used in the aerospace industry. The company is based in Port St. Lucie, FL (www.atlanticprecision.com).
“We have been looking for a company like Atlantic Precision for over two years and we are thrilled to partner with Tim Ritter and his talented team. In addition to cutting-edge technology, Atlantic Precision has a solid reputation as key problem solvers for their OEM customers. This partnership mentality fits well within the M2M culture,” said John Reinke, a managing director of Generation Growth Capital.
The Model 2 Machine Group was established in 2011 by Generation Growth Capital (GGC) to provide a range of services to assist OEM customers with the transition of parts and products from research and development to full production. With the acquisition of Atlantic Precision, the M2M Group now consists of five companies: Atlantic Precision; M2M Machining; Mica Tool & Manufacturing; Tri Aerospace; and Clinkenbeard & Associates. The Model 2 Machine Group is based southwest of Milwaukee in Muskego, WI (www.model2machine.com).
“The acquisition of API really solidifies our capabilities in the aerospace industry. The addition of direct metal laser sintering, multi-axis wire EDM, and additional 5-axis machining capacity rounds out the current offerings at Clinkenbeard and Tri Aerospace,” said Chuck Madore, the CEO of M2M. “All three companies have already begun to work in concert and we are quite excited to drive the Model 2 Machine Group strategy forward.”
Generation Growth Capital invests from $1 million to $10 million in manufacturing, service, and distribution businesses that have enterprise values of less than $30 million and sales ranging from $5 million to $50 million. Investments are primarily structured as equity but subordinated debt and warrant structures are also considered. The firm is headquartered in Milwaukee and has an additional office in Chicago (www.generationgrowth.com).
2014 PEPD • Private Equity’s Leading News Magazine • 10-8-14