Willcrest Partners and Curran Companies has recapitalized Phoenix-based Precision Aerospace, a provider of metal assemblies for aerospace and industrial applications. No financial terms were disclosed.
PHOENIX, April 24, 2019 /PRNewswire/ — Precision Aerospace, LLC, a leader in complex metal assemblies for aerospace and industrial applications, today announced that is has completed a recapitalization transaction led by Willcrest Partners and Curran Companies, two operationally focused, long-term oriented family offices.
Since its inception over 40 years ago, Precision Aerospace has been producing high quality prototypes and production run metal assemblies with unique hydroforming, fabrication, welding and machining capabilities all under one roof. The company has been asked by its customers to expand capacity to accommodate rapidly growing aerospace and industrial production requirements and is excited to announce this transaction to enable expansion.
Marshall Hodge, President of Precision Aerospace, commented, “Since joining Precision in 2018, I have been refining processes, implementing software, and expanding the team to handle our growing backlog. I am excited to partner with Willcrest Partners and Curran Companies to continue growing the business and take Precision’s manufacturing excellence and engineering capabilities to the next level.”
“Willcrest Partners and Curran Companies share a long-term orientation that emphasizes extensive investment in people, processes, and systems. We are excited to partner with Marshall Hodge and the team at Precision to expand the company’s capabilities to meet our customers’ exacting standards. With Precision’s excess capacity, our goal is to find the most talented people in the industry to expand while staying truly customer focused,” commented Ben Krick, Partner at Willcrest Partners.
About Precision Aerospace
Precision Aerospace, LLC is a global supplier of build-to-print, complex machined sheet metal fabrications, including welded and mechanical assemblies, primarily supporting aerospace and industrial engine and exhaust applications. Headquartered in Phoenix, Arizona, Precision Aerospace has been deep-rooted in the aerospace industry since 1976, and we are proud of the long-term relationships we have forged with our high-profile customers. Please visit www.precisionaerospace.com to learn more.
About Willcrest Partners and Curran Companies
Willcrest Partners (www.willcrest.com) is a San Francisco-based private investment firm with long-term capital from family office investors. The firm is focused on providing equity capital to B2B businesses in the Western U.S. With a team of company builders, entrepreneurs and investors, the members of Willcrest seek active partnerships with high quality, growing companies.
Curran Companies (www.currancos.com) is a Kansas City-based family office seeking long-term partnerships with management teams. Curran Companies targets control investments in lower middle market companies where it is able to back private capital with critical resources and operational insights to build market-leading businesses.