KKSP Precision Machining LLC, which is backed by Mill Point Capital, has acquired Watertown, Connecticut-based Prime Engineered Components, a maker of aluminum, brass and stainless steel custom metal components. No financial terms were disclosed.
GLENDALE HEIGHTS, Ill.–(BUSINESS WIRE)–KKSP Precision Machining, LLC (“KKSP”), a portfolio company of Mill Point Capital, announced today that it has acquired Prime Engineered Component, Inc. (“Prime” or the “Company”), a manufacturer of aluminum, brass and stainless steel custom metal components.
Prime, based in Watertown, CT, has more than a 50 year history of excellence in precision machined components serving a diverse set of customers and end markets including defense, medical, automotive, and aerospace. With its 85+ multi-spindle screw machines, CNC Swiss multi-axis lathes and CNC Vertical Milling Centers, the Prime Division will provide a significant expansion to capacity and unique capabilities that will add value to the KKSP platform.
Mark Izzo, Prime’s President commented, “The Prime management team and our entire organization of highly-skilled employees are excited to become a new division of KKSP Precision Machining. Over the span of five decades, both companies have emerged as industry-leaders by taking care of employees, investing in capabilities, and improving for our customers. We share a common culture of analytical, data driven decision-making, a passion for world-class capabilities and quality, and are excited to continue to that legacy in Watertown, CT as part of KKSP.”
“We are extremely excited to join forces with the Prime organization and leverage the unique strengths of both organizations to broaden our product offerings to KKSP and Prime customers alike. Prime has built a very stable and capable business over three generations of family ownership and we are honored by the trust they have placed in KKSP to protect and continue to build upon those resources, and in particular, to have Mark Izzo as part of the KKSP Leadership Team going forward,” noted Dave Dolan, President of KKSP.
About KKSP Precision Machining
Headquartered in Glendale Heights, IL, KKSP Precision Machining is one of the largest manufacturers of machined metal components produced primarily on automatic screw machines. Founded in 1968, the company has evolved into a leading player in the precision turned components industry with facilities in Illinois, Wisconsin, Michigan, Mexico, and Connecticut. KKSP operates over 540 primary machines and produces over 300 million parts annually to exacting print specifications for a diverse customer base including HVAC, fire suppression, appliance, defense, automotive, heavy truck, plumbing, medical and marine industries. For more information, please visit www.kksp.com. KKSP is a portfolio company of Mill Point Capital.
About Mill Point Capital
Mill Point Capital is a middle-market private equity firm focused on control-oriented investments in the business services and industrial sectors. The firm works with executive partners to leverage its investment professionals’ experience while providing strategic and operational guidance to drive long-term value creation in its portfolio companies. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.