3P Equity Partners and Silver Sail Capital are acquiring Visioneering Inc., a designer, manufacturer and installer of high-quality fabrication, assembly and automation tooling systems for the aerospace and defense industry. Visioneering was previously owned by Hammond, Kennedy, Whitney & Company. D.A. Davidson & Co. acted as Hammond, Kennedy, Whitney & Co.’s financial advisor. The buyer’s advisors include Sutton, Pakfar and Courtney as their legal representative and Crowe Horwath on accounting due diligence.
3P Equity Partners, LLC (“3P”) and Silver Sail Capital, LLC (“SSC”, and together with 3P, “S3”) have announced the joint acquisition of Visioneering Inc. (“Visioneering” or the “Company”). The Company was previously owned by Hammond, Kennedy, Whitney & Company – a private equity firm focused on lower middle market acquisitions – with D.A. Davidson & Co. acting as its financial advisor in a formal sale process. The buyer’s advisors included Sutton, Pakfar and Courtney, LLP as their legal representation and Crowe Horwath, LLP on the accounting diligence front. The terms of the transaction were not disclosed.
S3 will retain all of the Company’s current employees and are tremendously excited to partner with its talented management team. This team has been instrumental in guiding the Company and achieving its past and current success. S3 intends to provide additional resources and growth capital to the Company, allowing it to expand on its operational footprint. Visioneering will continue to explore its organic growth initiatives as well as possible acquisition opportunities allowing the Company to continue its successful evolution.
Visioneering is a leading designer, manufacturer, and installer of complex, high-quality fabrication, assembly and automation tooling systems for the aerospace and defense industry. The Company manufactures a complete suite of aerospace tooling products, ranging from highly-machined large assembly fixtures to smaller close-tolerance tools, such as jigs, mill fixtures, bond and curing tools, and facilities equipment. With a distinguished history that spans over six decades, the Company has a deep technical expertise and manufacturing “know-how” that creates substantial barriers to entry for new competitors. The Company’s custom solutions and tooling system expertise have enhanced the aerospace industry’s ability to assemble aircraft in less time and with greater precision and flexibility.
3P Equity Partners, LLC is a committed capital private equity firm that places strategic investments in general manufacturing, plastics and packaging companies with $15-75M in sales. 3P is an all-equity buyer and does not require any further investor approval to execute acquisitions, allowing the team to close transactions with a high degree of efficiency. Additionally, as 3P is funded by several prominent family offices, its investors are comfortable with the firm retaining its portfolio businesses in excess of the traditional 3-5 year holding period of the more institutional funds. The firm’s current portfolio includes several tooling and fixtures businesses in the US, as well as a number of industrial and food packaging organizations in Eastern Europe. 3P implements a longterm investment strategy where substantial additional capital can be leveraged to grow the business.
The firm looks to partner with existing management teams to equip them with the adequate tools to build lasting strong capabilities and lasting competitive
advantage. For further information on 3P, please refer to www.3pequity.com.
Silver Sail Capital was founded in 2012 to invest in middle market companies predominantly in North America and is supported by a strategic advisory board of
individuals with significant experience and skills in business and capital markets. The firm aims to partner with entrepreneurs and management by providing not only capital, but effective operational and financial support acting as a catalyst for long-term growth.
Additionally, the firm ensures its portfolio companies are well capitalized with a strong balance sheet allowing management to focus their time effectively to build value through building the business. For further information, please refer to www.silversailcapital.com.