Capital island partners1/10/2023 ![]() “We are excited to expand our capabilities by adding a best-in-class large format business which expertly serves the needs of the market,” said Eric Wisnefsky, CEO of Precinmac. In addition to the Company’s large format machining, fabrication, and assembly services, Major Tool and Machine provides design for manufacturing assistance and supports both manufacturing engineering as well as contract manufacturing. Financial terms of the private transaction were not disclosed.įounded in 1946 and located in Indianapolis, Indiana, Major Tool and Machine specializes in serving the aerospace and defense, power generation, energy, semiconductor, and oil and gas markets. The acquisition expands Precinmac’s capabilities and differentiated value proposition to customers. South Paris, ME, and Indianapolis, IN, Septem– Precinmac, a diversified manufacturer of high-precision machined components and assemblies in the aerospace and defense, semiconductor, medical, and general industrials sectors, today announced that it has purchased Major Tool and Machine. Stout served as accounting and tax advisors, and Polsinelli as legal advisors to Petersen Inc. Precinmac is owned by Pine Island Capital Partners, LLC, Bain Capital Credit, LP, and Compass Partners Capital.Īlantra served as financial advisors and Willke Farr & Gallagher, LLP and Weil, Gotshal & Manges LLP served as legal advisors to Precinmac. The Precinmac brand represents a family of eight operating companies in the United States and Canada- Maine Machine Products Company, Hoppe Technologies, Trimaster Manufacturing, HPG, Viper Northwest, Shields Manufacturing, Major Tool and Machine, and Petersen Inc. Precinmac ( ) is a leading diversified manufacturer of high-tolerance precision machined components and assemblies. ![]() team looks forward to continuing to provide the highest quality products and services for our customers worldwide.” “We have built an amazing company which in turn supports our team members and surrounding communities,” said Mark Jenkins, CEO of Petersen Inc. They understand our business and will invest in our future and continued growth.” “Precinmac is poised to support our customers and team members which are the foundation of our success. “We are very excited to join the family of companies in Precinmac,” said Steve Petersen, Chairman of Petersen Inc. and Canada, Precinmac provides broad capabilities and expertise to these high requirements industries. From its integrated manufacturing locations in the U.S. Precinmac is a critical supplier to a wide range of prime contractors that rely on the company’s high precision manufacturing capabilities and expertise. – Precinmac specializes in precision milling and turning, multi-axis machining, grinding, close tolerance fabrication, and complex components. With its eight divisions – Maine Machine Products Company, Hoppe Technologies, Trimaster Manufacturing, HPG, Viper Northwest, Shields Manufacturing, Major Tool and Machine, and now Petersen Inc. “This business is complimentary to the recent acquisition of Major Tool and Machine which was added to our portfolio in September of 2021.” “We are excited to continue our expansion by adding another best-in-class large format business which expertly serves the needs of the market,” said Eric Wisnefsky, CEO of Precinmac. has grown to provide warehouse/distribution (3PL), field installations, and design engineering services. serves the aerospace, defense, entertainment, industrial, mining, nuclear, and petrochemical industries with a diversified range of specialized fabrication, precision machining and advanced manufacturing services. The addition expands Precinmac’ s capabilities and product offerings to better serve the aerospace and defense, semiconductor, power generation/energy, medical, and general industrial sectors.įounded in 1961 with locations in Ogden, Utah, and Pocatello, Idaho, Petersen Inc. ![]() SOUTH PARIS, Maine & OGDEN, Utah - Precinmac, a diversified manufacturer of high-precision machined components and assemblies, announced today that it has acquired Petersen Inc., an award winning provider of high-quality industrial products and services.
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