M&A Deal Summary

NN Acquires Precision Engineered Products

On August 17, 2015, NN acquired manufacturer Precision Engineered Products from Nautic Partners and Joshua Partners for 615M USD

Acquisition Highlights
  • This is NN’s 1st transaction in the Manufacturing sector.
  • This is NN’s largest (disclosed) transaction.
  • This is NN’s 3rd transaction in the United States.
  • This is NN’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2015-08-17
Target Precision Engineered Products
Sector Manufacturing
Buyer(s) NN
Sellers(s) Nautic Partners
Joshua Partners
Deal Type Add-on Acquisition
Deal Value 615M USD
Advisor(s) Piper Jaffray Companies
Lincoln International (Financial)

Target

Precision Engineered Products

Attleboro, Massachusetts, United States
Precision Engineered Products LLC is a global manufacturer of highly engineered precision customized solutions serving the medical, electrical, transportation and aerospace end markets.

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Buyer(S) 1

Buyer

NN

Charlotte, North Carolina, United States
Category Company
Founded 1980
Sector Manufacturing
Employees3,087
Revenue 489M USD (2023)
DESCRIPTION

NN manufactures and supplies high precision metal bearing components, industrial plastic and rubber products and precision metal components to a variety of markets on a global basis. NN was founded in 1980 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 4 of 6
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 3 of 5
State (Massachusetts) 1 of 2
Country (United States) 3 of 5
Year (2015) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-21 Autocam

Kentwood, Michigan, United States

Autocam Corp. is a designer and manufacturer of high volume, precision machined, close tolerance speciality metal alloy components primarily used in fuel, power steering,and braking systems for the transportation industry and surgical devices of the metal industry.

Buy $245M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-10 Precision Bearing Components Group

Johnson City, Tennessee, United States

Precision Bearing Components Group is a producer of premium-quality precision balls, rollers, cages, and sheet metal parts.

Sell $375M

Seller(S) 2

SELLER

Nautic Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1986
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Nautic Partners is a private equity firm focused on middle-market company investments based in the US. Nautic looks to invest $50 to $400 million of equity in businesses valued between $100 million and $1 billion. Nautic's industry focus is business services, manufacturing, healthcare, and communications. Prospective investment structures include buyouts, recapitalizations, consolidations, and growth financings. Nautic prefers majority investment positions. Nautic Partners was formed in 1986 and is based in Providence, Rhode Island.

DEAL STATS #
Overall 32 of 47
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 14 of 18
State (Massachusetts) 1 of 1
Country (United States) 32 of 46
Year (2015) 4 of 5
Size (of disclosed) 4 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-06 Theorem Clinical Research Holdings

King of Prussia, Pennsylvania, United States

Theorem Clinical Research Holdings LLC is a full-service, global clinical research organization. Theorem Clinical Research conducts early phase, phase II/III and late phase clinical trials for the pharmaceutical, biotechnology and medical device industries. The Company also provides technical services that support clinical trials, with a particular focus on data management and biostatistics services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-28 Aerostar Aerospace Manufacturing

Phoenix, Arizona, United States

Aerostar Aerospace is a provider of precision machined parts and assemblies used in commercial and military aircraft.

Buy -
SELLER

Joshua Partners

Newtown, Pennsylvania, United States
Category Private Equity Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

Joshua Partners is an unsponsored, lower middle-market private equity firm. Joshua Partners generally pursues profitable companies with strong management, a defensible and highly differentiated niche business model, and yearly cash earnings of $2 to $20 million. Joshua Partners was formed in 2007 and is based in Newtown, Pennsylvania.

DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2015) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-10 Action Resources

Birmingham, Alabama, United States

Action Resources is a provider of transportation of specialty chemicals and turnkey environmental remediation service. Action Resources also provides Environmental services, including in-plant services, emergency response, site remediation, industrial cleaning services, municipal and civil services, and pipeline services (Action Environmental); Heavy and Oversized hauling (Stone Trucking); and Third Party Logistics Services (ARI Logistics). Action Resources was founded in 1994 and is based in Birmingham, Alabama.

Buy -
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