Main Street-backed Compass Precision acquires Douglas Machining

Compass Precision, which is backed by Main Street Capital Holdings, has acquired Winona, Minnesota-based Douglas Machining, a maker of precision metal components.

Compass Precision, which is backed by Main Street Capital Holdings, has acquired Winona, Minnesota-based Douglas Machining, a maker of precision metal components. No financial terms were disclosed.


PITTSBURGH–(BUSINESS WIRE)–Main Street Capital Holdings, LLC, a Pittsburgh-based private equity firm, is pleased to announce the acquisition of Douglas Machining Services, LLC, by its portfolio company, Compass Precision, LLC. Douglas Machining is a leading manufacturer of precision metal components based in Winona, MN.

Douglas Machining Services is the fifth operating company for Compass Precision. Compass plans to integrate and support Douglas in the same manner as it has with its other divisions. Operating companies are supported by centralized platform resources which provide strategic guidance, operational expertise, sales and marketing support, as well as other administrative support services.

Douglas Machining is home to state-of-the-art equipment, a highly skilled workforce, and an outstanding management team. Manufacturing capabilities including advanced CNC milling, CNC turning, vertical milling, CNC lathes, and EDM services. Douglas services a large customer base in industrial and specialty markets located in the upper Midwest and throughout the United States.

“We are thrilled and excited to be joining forces with Dan Douglas and the wonderful company he has built in Winona,” explained Gary Holcomb, Compass’s President and CEO. “Dan and his team share Compass’s passion for serving customers extremely well in the machining of complicated, close tolerance parts.”

Ryan Davis, Managing Partner of Main Street commented, “It’s been a pleasure to work closely with the Compass management team to source, acquire, and integrate another add-on acquisition. Finding complementary add-on opportunities that fit with Compass’s culture and can benefit from Compass’s platform resources are key elements of our strategy.”

Dennis Prado, Managing Partner of Main Street noted, “Douglas Machining is Compass’s first acquisition outside of the Southeast which supports our objective to expand geographically. We’re still seeing a lot of add-on opportunities amid the COVID-19 pandemic. We will remain selective and focus on only the highest quality opportunities for Compass.”

Compass Precision will continue to look to acquire companies with complementary products, end-markets, geographies, or manufacturing capabilities. Of particular interest are companies with advanced production capabilities, strong management teams, recurring projects, and high growth end-markets.

About Compass Precision, LLC
Based in Charlotte, NC, Compass Precision, LLC, was created to acquire companies in the precision metal manufacturing industry. Compass Precision was formed in October 2019 through the acquisition of Quality Products & Machine, LLC, Advanced Machining & Tooling, LLC, and Tri-Tec Industries Inc. Gray Manufacturing Technologies, LLC became the fourth operating division in August 2020. Manufacturing capabilities include advanced machining, EDM, fabricating, assembly, and test services. The companies, including Douglas Machining Services, LLC, service a diversified group of blue-chip customers in the aerospace & defense, space, medical, industrial, energy, and telecommunication industries. For more information, please visit

About Main Street Capital Holdings, LLC
Founded in 1994, Main Street Capital Holdings, LLC is a Pittsburgh-based private equity firm that acquires companies in a select group of industries at the lower end of the middle market. Main Street acquires control positions in companies with enterprise values ranging from $10 million to $125 million. A key to Main Street’s success is its strong partnerships with existing management teams and proven operators. For more information, please visit