Windjammer Capital Acquires PrecisionX Group

A leading provider of precision metal components

NEWPORT BEACH, Calif. & WALTHAM, Mass.--(BUSINESS WIRE)--Windjammer Capital ("Windjammer") today announced the acquisition of PrecisionX Group ("PrecisionX" or the "Company"), a leading provider of high precision metal components for critical-use applications in high growth, regulated markets.

PrecisionX is an advanced components manufacturer serving leading OEMs and Tier 1 suppliers in the aerospace & defense, medical device, and satellite & space industries. With approximately 400,000 square feet of US-based manufacturing space across seven facilities, the Company integrates advanced manufacturing and material science know-how to solve the most complex manufacturing challenges in highly regulated markets. Capabilities include specialty deep and shallow drawn and progressive stamping, as well as Swiss screw, CNC, and wire EDM machining technologies. Headquartered in Waterbury, Connecticut, the Company holds ISO 9001, ISO 13485, and AS9100D certifications, in addition to ITAR and FDA registrations.

Craig Majernik, Managing Director at Windjammer, said: “PrecisionX represents an attractive growth platform, centered on a differentiated value proposition, with multiple organic and inorganic avenues for expansion. We are excited to partner with a high-quality management team and continue their disciplined approach to driving value creation, focusing on high growth end markets and delivering increasingly complex, mission-critical solutions to customers. Our experience investing in niche manufacturers and regulated markets – where quality, high reliability and cost of failure are paramount considerations – provides an opportunity to draw on relevant resources to both inform the growth strategy and support the team in executing the plan.”

Chris Huntington, CEO of PrecisionX, said: “Windjammer has a proven track record of working together with management to build strategic value in the companies they acquire. We look forward to our new partnership and are confident in our ability to further strengthen our position as a scaled provider of critical-use highly engineered precision components. Our customers rely on PrecisionX as an essential supply chain partner. Having a private equity sponsor with the experience and resources to invest in commercial, operational and M&A initiatives will enhance our ability to serve customers more efficiently and in more value-added ways, and will be key to our value creation strategy going forward.”

“PrecisionX is the fourth investment in Windjammer’s $1.3 billion Fund VI,” said Jeff Miehe, Managing Principal at Windjammer, “and as a leading provider of mission-critical, low cost-to-value, high cost-of-failure engineered components, aligns directly with our investment strategy.”

Stifel acted as financial advisor to Windjammer, and Kirkland & Ellis provided legal counsel. Baird and Houlihan Lokey served as financial advisors to PrecisionX, and Kirkland & Ellis acted as legal advisor.

About PrecisionX

PrecisionX provides precision metal components for critical-use applications in growth-oriented end markets, including aerospace & defense, medical devices, satellite & space, electric vehicles, mining, semiconductors, and other industrial markets. Headquartered in Waterbury, Connecticut, PrecisionX utilizes deep and shallow drawn and progressive stamping, as well as Swiss screw, CNC, and wire EDM machining technologies to manufacture high-precision components from prototyping through high-volume production. Brands include GEM, Coining, National Manufacturing, Ditron, Inc., MSK Precision Products and Hudson Technologies. For more information, visit www.precisionxmfg.com.

About Windjammer

Windjammer Capital is a national private equity investment firm based in Newport Beach, CA and Waltham, MA that invests control equity in middle-market businesses and in partnership with management. Windjammer has over $3 billion of committed capital with respect to its control equity investment strategy, and since inception has completed over 60 platform investments and more than 200 strategic add-ons. The firm targets investments in companies that are leaders in attractive niche markets and share several of the following characteristics: significant and defensible market positions; differentiated products and services; strong management teams; scalable business models; identifiable growth opportunities; and consistent financial performance. To learn more, visit windjammercapital.com.

Please contact Craig Majernik ([e-mail]) or Jeff Miehe ([e-mail]) with any inquiries.