- PSI will continue to be led by its executive team, including John Preiser and Jesse Palma
- HCPI originally acquired Prince in partnership with Mark Miller and his family in May 2022
- TREP Advisors served as financial advisor to PSI on the deal
Prince Industries, which is backed by HC Private Investments, has acquired Florida-based Precision Shapes Inc, a provider of precise machining to aerospace and defense customers. No financial terms were disclosed.
Illinois-based Prince is a precision machining and sheet metal fabrication company.
PSI will continue to be led by its executive team, including John Preiser and Jesse Palma.
“The acquisition of Precision Shapes significantly enhances Prince’s capabilities and penetration in the growing aerospace and defense market,” said Mark Miller, CEO of Prince, in a statement. “Like Prince, PSI was family-owned and managed by two sisters, Susan Palma and Cheryl Cleveland, who worked at the Company for over 40 years. We are delighted to partner with Susan, Cheryl, and PSI’s talented management team to offer increased capabilities and a national manufacturing footprint to our combined customer base.”
HCPI originally acquired Prince in partnership with Mark Miller and his family in May 2022.
Winston & Strawn LLP served as legal counsel to Prince Industries and HCPI. TREP Advisors served as financial advisor to PSI. Wintrust Financial Corporation provided debt financing for the transaction.
HC Private Investments invests in lower middle-market manufacturing businesses within the consumer and industrial markets.
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