M&A Deal Summary

Centerbridge Partners Acquires Precinmac Precision Machining

On October 14, 2024, asset manager Centerbridge Partners acquired manufacturer Precinmac Precision Machining from Compass Partners and Pine Island Capital Partners

Acquisition Highlights
  • This is Centerbridge Partners’ 2nd transaction in the Manufacturing sector.
  • This is Centerbridge Partners’ 40th transaction in the United States.
  • This is Centerbridge Partners’ 1st transaction in Maine.

M&A Deal Summary

Date 2024-10-14
Target Precinmac Precision Machining
Sector Manufacturing
Buyer(s) Centerbridge Partners
Sellers(s) Compass Partners
Pine Island Capital Partners
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs (Financial)
Weil Gotshal & Manges (Legal)

Target

Precinmac Precision Machining

South Paris, Maine, United States
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) 1

Buyer

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2005
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 49 of 49
Sector (Manufacturing) 2 of 2
Type (Secondary Buyout) 28 of 28
State (Maine) 1 of 1
Country (United States) 40 of 40
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-08 Remedi SeniorCare

Baltimore, Maryland, United States

Remedi SeniorCare delivers comprehensive pharmacy services, pharmacy consulting, and data management services to nursing homes, assisted living, and continuing care retirement communities. The business is committed to helping these organizations achieve outstanding care, financial strength, and medication safety. Remedi combines their culture of caring with real-world pharmacy services and best-in-class technology to give organizations more time and resources and help them focus on caring for their residents. Remedi SeniorCare was formed in 1954 and is based in Baltimore, Maryland.

Sell -

Seller(S) 2

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 1 of 1
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Maine) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-02 Precinmac Precision Machining

South Paris, Maine, United States

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.

Buy -
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 1
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Maine) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS 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