- KKSP was acquired by Mill Point in 2017
- KKSP Precision Machining LLC is a maker of machined metal components
- Based in Chicago, Pine Grove is focused on acquiring and operating middle-market businesses with a high engineering component.
Mill Point Capital has sold KKSP Precision Machining to Pine Grove Holdings. No financial terms were disclosed.
Mill Point will maintain a minority stake in the business going forward.
KKSP was acquired by Mill Point in 2017.
“We are very proud of our successful partnership with Dave Dolan and the entire KKSP team, as well as the many achievements during our partnership,” said Mark Paolano of Mill Point Capital, in a statement. “Since our initial transaction in 2017, we successfully executed on our Value Creation Plan, creating an industry leader poised to thrive in its market. We are also thrilled to partner with Nelda J. Connors of Pine Grove Holdings and support the continued growth of KKSP.”
Headquartered in Glendale Heights, Illinois, KKSP Precision Machining LLC is a maker of machined metal components produced primarily on automatic screw machines. Founded in 1968, KKSP operates over 570 primary machines and produces over 350 million parts annually to a customer base that includes the HVAC, fire suppression, appliance, defense, automotive, heavy truck, plumbing, medical and marine industries.
Based in Chicago, Pine Grove Holdings is focused on acquiring and operating middle-market businesses with a high engineering component.