M&A Deal Summary

Compass Partners Capital and Pine Island Capital Partners Acquire Precinmac Precision Machining

On April 2, 2020, merchant bank Compass Partners Capital and private equity firm Pine Island Capital Partners acquired manufacturer Precinmac Precision Machining from GenNx360 Capital Partners

Acquisition Highlights
  • This is Compass Partners Capital’s 2nd and Pine Island Capital Partners’ 1st transaction in the Manufacturing sector.
  • This is Compass Partners Capital’s 2nd and Pine Island Capital Partners’ 1st transaction in the United States.
  • This is Compass Partners Capital’s 1st and Pine Island Capital Partners’ 1st transaction in Maine.

M&A Deal Summary
Date 2020-04-02
Target Precinmac Precision Machining
Sector Manufacturing
Buyer(s) Compass Partners Capital
Pine Island Capital Partners
Sellers(s) GenNx360 Capital Partners
Deal Type Secondary Buyout

Target

Precinmac Precision Machining

South Paris, Maine, United States
website
Precinmac Precision Machining is a manufacturer of high tolerance precision machined components and assemblies. The company formulates cost-saving alternatives to current production and sourcing methods by offering a single-source solution for precise, high-quality, flexible, and on-time manufacturing to top-tier customers globally. Precinmac Precision Machining is based in South Paris, Maine.

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Buyer(S) 2

Buyer

Compass Partners Capital

website

Category Merchant Bank
Founded 1996
Size Middle-Market
Type Sector Focused
DESCRIPTION

Compass Partners is a merchant bank focused on investing in and advising growth platforms within the aerospace and defense sectors. Compass will consider opportunities across the US and looks to partner with profitable companies generating $5 to $50 million of EBITDA. Compass Partners was formed in 1996 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 2 of 2
Sector (Manufacturing) 2 of 2
Type (Secondary Buyout) 2 of 2
State (Maine) 1 of 1
Country (United States) 2 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-28 Micro Precision

South Windham, Connecticut, United States

Micro Precision is a tier-one Level 1/Sub-Safe supplier of critical components for the U.S. Navy’s Virginia and Columbia class submarines. Micro Precision was founded in 1981 and is based in South Windham, Connecticut.

Buy -
Buyer

Pine Island Capital Partners

website

Category Private Equity Firm
Founded 2018
Size Small
Type Sector Agnostic
DESCRIPTION

Pine Island Capital Partners is a private equity firm focused on majority or minority investments in North American companies valued up to $500 million. The Firm has a preference for growth-oriented companies with strong management and highly specialized products/services. Sectors of interest include aerospace, industrial technology, government services, defense, space systems, and information-based technologies. Pine Island Capital Partners is based in Ft. Lauderdale, Florida.

DEAL STATS #
Overall 1 of 2
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Maine) 1 of 1
Country (United States) 1 of 2
Year (2020) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-01 InVeris Training Solutions

Suwanee, Georgia, United States

InVeris Training Solutions is a provider of integrated virtual and live-fire training systems and services for domestic and international law enforcement customers. InVeris Training Solutions is based in Suwanee, Georgia.

Buy $146M

Seller(S) 1

SELLER

GenNx360 Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2006
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GenNx360 Capital Partners is a private equity firm focused on acquiring mid-sized US-based businesses. GenNx360 targets companies with revenues between $50 and $500 million and $5 to $35 million of EBITDA. The Firm looks to invest $25 to $100 million per transaction. Specific areas of interest include industrial water treatment, specialty chemicals/engineered materials, industrial machinery/equipment components, agriculture products and services, global transportation component parts, aerospace/defense, oil/gas services and business services. GenNx360 Capital Partners was formed in 2006 and is based in New York City.

DEAL STATS #
Overall 8 of 12
Sector (Manufacturing) 3 of 3
Type (Secondary Buyout) 2 of 3
State (Maine) 1 of 1
Country (United States) 7 of 10
Year (2020) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-03 Midwest Can

Franklin Park, Illinois, United States

Midwest Can is a manufacturer of portable fuel containers used for the safe handling, storage, and usage of flammable liquids such as gas, diesel, and kerosene. Midwest Can design and manufactures PFCs, which contain its industry-major FlameShield Safety System, as well as fluid management accessories such as funnels, drain pans, and spouts. Midwest Can’s products are sold through a diverse customer base consisting of farm & fleet, lawn & garden, automotive aftermarket, hardware, and gas & convenience retailers. Midwest Can was founded in 1951 and is based in Franklin Park, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-08 B2B Industrial Packaging

Addison, Illinois, United States

B2B Industrial Packaging offers a full range of packaging supplies and equipment, including strapping, stretch film, corrugated, and fasteners, as well as tool repair services, to more than 6,000 active clients across a wide variety of end markets. B2B Industrial Packaging was founded in 2004 and is based in Addison, Illinois.

Buy -
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