Alantra co-advises GenNx360 on the sale of Precinmac Precision Machining

Mar 2020

Sell-side advisory

Boston – Alantra, a leading global investment bank and asset management firm, has advised GenNx360 Partners on the sale of its portfolio company, Precinmac Precision Machining, to a consortium of US private equity buyers including Bain Capital, Pine Island Capital Partners, and Compass Partners Capital. Alantra acted as co-financial advisor to GenNx360 alongside Houlihan Lokey. The transaction closed on March 27, 2020 and the deal value was not disclosed.

Precinmac is a leading supplier of mission-critical, precision machined components used in the aerospace and defense, semiconductor, and automation equipment sectors. The business operates through four, independently-owned divisions: Maine Machine Products Company, Hoppe Technologies, Trimaster Manufacturing, and HPG. The company specializes in precision milling and turning, multi-axis machining, molding and grinding, close tolerance fabrication, and complex geometries from its four integrated manufacturing facilities in the US and Canada. Alantra was mandated as sell-side co-advisor due to its investment banking sector advice & experience.

Precinmac’s CEO, Eric Wisnefsky, said in a company statement, “With the support of Pine Island, Bain Capital, and Compass, we are excited to continue to expand the business by assisting high requirements customers who need impeccable quality, additional capacity, and flawless service.”

“We have enjoyed being a long-term advisor to GenNx360, Eric and the Precinmac team, while assisting with the strategy to transform the business by growing its aerospace content, particularly in engine components,” said Wade Aust, Managing Director and Partner at Alantra. “Alantra has considerable experience in the aerospace engine component space and it was impressive to see Precinmac flawlessly execute on this strategy.”

“Precinmac is an unusually disciplined and analytical company,”said David Waldstein, Managing Director with Alantra. “Eric and his team are excellent at identifying challenging opportunities where Precinmac’s capabilities make them uniquely positioned to be successful in providing consistent, high-value services to their customers.”

The Alantra team advising GenNx360 included Wade Aust (Managing Director & Partner, Boston), David Waldstein (Managing Director, Boston), and Jackson Rimpas (Associate, New York). Alantra proved essential to the completion of this transaction and looks forward to the possibility of future buy-side work as the new owners grow this platform investment.