Buyout (LBO, MBO, MBI) • Manufacturing

MPE Partners and CID Capital Acquire Precision Parts International

On August 23, 2004, private equity firms MPE Partners and CID Capital acquired manufacturer Precision Parts International

Acquisition Context
  • This is MPE Partners’ 2nd and CID Capital’s 1st transaction in the Manufacturing sector.
  • This is MPE Partners’ 25th and CID Capital’s 5th transaction in the United States.
  • This is MPE Partners’ 2nd and CID Capital’s 1st transaction in Michigan.
Investment Fate
  • Precision Parts International was sold to a consortium of financial buyers in 2005.
  • Precision Parts International was sold to a strategic buyer in 2009.

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M&A Deal Summary

Date August 23, 2004
Target Precision Parts International
Sector Manufacturing
Buyer(s) MPE Partners
CID Capital
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Precision Parts International

Rochester Hills, Michigan, United States
Precision Parts International LLC is a manufacturer of high-precision, complex metal components using fineblanking, high-precision gearing and stamping processes.
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Buyers Overview 2

Buyer

MPE Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 3.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MPE Partners is a Midwest based investment firm principally focused private equity investments throughout North America. MPE has a preference for buyouts and recapitalizations of lower middle-market, family and entrepreneur owned businesses. The Firm looks for stand-alone companies operating in the 'high-value' manufacturing or business services sectors. MPE seeks businesses with at least $5 million of EBITDA and valued up to $250 million. MPE Partners is headquartered in Cleveland, Ohio.


Deal Context for Buyer #
Overall 27 of 89
Sector: Manufacturing 2 of 9
Type: Buyout (LBO, MBO, MBI) 2 of 8
State: Michigan 2 of 4
Country: United States 25 of 86
Year: 2004 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-16 Sheldahl

Northfield, Minnesota, United States

Sheldahl, Inc. is a Producer of high-density substrates, high quality flexible printed circuitry and flexible laminates.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-01 Peregrine Semiconductor

San Diego, California, United States

Peregrine Semiconductor Corp. designs and manufactures high-performance integrated circuits based on its patented commercial Ultra Thin Silicon (UTSi) CMOS process technology.

Buy -
Buyer

CID Capital

Carmel, Indiana, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

CID Capital is a private investment firm that makes both venture capital and private equity investments. CID's private equity practice invests $10 to $15 million of equity capital in lower middle-market companies with $10 to $100 million of revenue and at least $3 million of cash-flow. Funds are generally used to support divestitures, management buyouts, leveraged buyouts, shareholder liquidity, recapitalization, and growth financing. Areas of interest include industrial products and services, general distribution, safety and security products, branded consumer products, medical products and services, building products, and food manufacturing. The Firm prefers investments located within the US. CID Capital was formed in 1981 and is based in Indianapolis, Indiana.


Deal Context for Buyer #
Overall 5 of 32
Sector: Manufacturing 1 of 7
Type: Buyout (LBO, MBO, MBI) 4 of 14
State: Michigan 1 of 1
Country: United States 5 of 31
Year: 2004 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 Denver Biomedical

Golden, Colorado, United States

Denver Biomedical, Inc. is a manufacturer, distributor, and marketer of medical devices for fluid management in the chest and abdomen.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-25 Victor Oolitic Stone Co.

Bloomington, Indiana, United States

Victor Oolitic Stone Co. provides quarry blocks and slabs to cut stone fabricators as well as ready-to-use sawed-four-sides and sawed-six-sides sills, hearths, mantels, and coping material to brick and masonry supply yards. Victor Oolitic Stone Co. was founded in 1898 and is based in Bloomington, Indiana.

Sell -