Precision Holdings Acquires McSwain Manufacturing
SOUTHLAKE, Texas and WINDSOR, Connecticut – December 3, 2015 – Insight Equity Holdings LLC (“Insight Equity”), the Southlake, Texas headquartered private equity firm, today announced that its precision machining portfolio company Precision Holdings acquired Cincinnati, Ohio-based McSwain Manufacturing Corporation.
Founded in 1972, McSwain Manufacturing is an expert in complex manufacturing specializing in tight tolerance, large turning and milling operations primarily supporting the industrial gas turbine market.
“The combination of our Midstate Machine business in Winslow, Maine and McSwain Manufacturing creates a great precision machining partnership – combining complementary and scale capabilities to support our customers’ growth in the power generation, aerospace, and oil and gas industries,” said Precision Holdings CEO Duane Pekar.”
“The acquisition of McSwain strengthens Precision Holdings’ core competency in large turning and milling, and also aligns the best practices of two leading companies in the industry. We’re very excited to have McSwain Manufacturing join our team,” added James Jackson, a Senior Vice President at Insight Equity.
Victor Vescovo, COO & Managing Partner at Insight Equity, noted “We’re very impressed with what Ken Bertrand and his team at McSwain have accomplished. We look forward to working with them for years to come and introducing them to our growing capabilities in hard-metal additive manufacturing.”
Precision Holdings’ current precision machining portfolio includes Midstate Machine (Winslow, Maine); additive manufacturing expert CalRAM Inc. (Camarillo, California.); and now McSwain Manufacturing Corporation.
About Precision Holdings
Windsor, Connecticut-based Precision Holdings is a leader in precision contract machining, fabrication, assembly, and 3D metal printing services for the aerospace, defense, power generation, and oil and gas industries. Precision Holdings has more than 300,000 square feet of manufacturing space with the capacity to produce a full range of components from large industrial gas turbines to small, highly complex additive manufactured parts. The company operations include more than 100 state-of-the-art, multi-axis CNC machines; 3D printers; and CMMs handling volumes ranging from prototyping to full-scale production.
About Insight Equity
Insight Equity (www.insightequity.com) makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight Equity specializes in partnering with companies in complex and challenging situations, including corporate divestitures, aggressive growth opportunities, restructurings, and transitions from private family ownership. The firm leverages a proven, collaborative value creation model to facilitate operating enhancements and growth. Insight Equity’s headquarters is located near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City.