PE-backed KKSP buys PRO

KKSP Precision Machining, LLC, a portfolio company of Mill Point Capital, has acquired Plainfield, Connecticut-based PRO Manufactured Products Inc, a maker of stainless steel, aluminum, and other metal alloy custom components.

KKSP Precision Machining, LLC, a portfolio company of Mill Point Capital, has acquired Plainfield, Connecticut-based PRO Manufactured Products Inc, a maker of stainless steel, aluminum, and other metal alloy custom components. No financial terms were disclosed.

PRESS RELEASE

GLENDALE HEIGHTS, Ill.–(BUSINESS WIRE)–KKSP Precision Machining, LLC (“KKSP”), a portfolio company of Mill Point Capital, announced today that it has acquired PRO Manufactured Products, Inc. (“PRO”), a manufacturer of stainless steel, aluminum, and other metal alloy custom components.

PRO, based in Plainfield, CT, was founded in 1992 and has built a strong reputation for solving customers’ difficult machining challenges complex parts produced from challenging alloys such as 304 and 316 stainless steel, 6061 aluminum, and Inconel. With a combination of single-spindle cam, CNC swiss, and CNC lathes, PRO’s equipment and talented machinists expand KKSP’s part geometry and alloy capabilities in addition to providing expansion into attractive and growing end markets including medical devices, communications, and water filtration. PRO also continues KKSP’s expansion into the Northeast market following last week’s acquisition of Prime Engineered Components, Inc. (“Prime”) in Watertown, CT. Mark Izzo, Prime’s President, will lead KKSP’s Connecticut division, which consists of the former Prime location in Watertown, the PRO location in Plainfield, and together operate over 100 multi-spindle, single-spindle, swiss, and CNC machines.

Ward Walker, PRO’s President and Founder commented, “I am excited for PRO to join forces with KKSP and look forward to working with Mark Izzo and the rest of the KKSP team to leverage the strengths of both organizations to expand services to customers and opportunities for the PRO organization.”

“We are extremely excited that PRO has become part of KKSP. Over the past 28 years, Ward and Kristin Walker have built a very interesting business focused on complex parts and difficult to machine alloys that many companies in our industry avoid. We are excited to work closely with and learn from the PRO organization and explore opportunities to cross-sell those capabilities across our large platform of customers and end markets in North America and Asia,” 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 560 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 private equity firm targeting control investments in lower-middle market businesses, with a focus on industrial and business services companies in North America. Mill Point’s experienced team of investors and Executive Partners seek to enhance the value of portfolio companies by executing transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.