M&A Deal Summary

Precision Castparts Acquires Noranco

On July 27, 2015, Precision Castparts acquired aerospace company Noranco from MidOcean Partners for 560M USD

Acquisition Highlights
  • This is Precision Castparts’ 14th transaction in the Aerospace sector.
  • This is Precision Castparts’ 8th largest (disclosed) transaction.
  • This is Precision Castparts’ 2nd transaction in Canada.
  • This is Precision Castparts’ 2nd transaction in Ontario.

M&A Deal Summary

Date 2015-07-27
Target Noranco
Sector Aerospace
Buyer(s) Precision Castparts
Sellers(s) MidOcean Partners
Deal Type Add-on Acquisition
Deal Value 560M USD
Advisor(s) Lazard (Financial)

Target

Noranco

Pickering, Ontario, Canada
Noranco is a diversified manufacturer and supplier of high quality metal parts and assemblies to the aerospace industry.

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Buyer(S) 1

Buyer

Precision Castparts

Portland, Oregon, United States

Category Company
Founded 1949
Sector Manufacturing
Employees29,900
Revenue 10.0B USD (2015)
DESCRIPTION

Precision Castparts is a manufacturer of complex metal components and products. It serves the aerospace, power, and general industrial markets. Precision Castparts was formed in 1953 and is headquartered in Portland, Oregon.


DEAL STATS #
Overall 30 of 31
Sector (Aerospace) 14 of 14
Type (Add-on Acquisition) 25 of 26
State (Ontario) 2 of 2
Country (Canada) 2 of 2
Year (2015) 1 of 1
Size (of disclosed) 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-20 Aerospace Dynamics International

Valencia, California, United States

ADI is a suppliers in the aerospace industry, operating a wide range of high-speed machining centers. ADI has developed particular expertise in large complex components, hard metal machining, and critical assemblies. The company has strong positions across high growth commercial platforms, including a significant presence on the Airbus A350.

Buy $625M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-03 McSwain Manufacturing

Cincinnati, Ohio, United States

McSwain Manufacturing Corp. engages in manufacturing specializing in tight tolerance, large turning and milling operations primarily supporting the industrial gas turbine market.

Sell -

Seller(S) 1

SELLER

MidOcean Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MidOcean Partners is a private equity firm focused on acquiring controlling interests in middle-market companies throughout North America. The Firm has a preference for consumer and business services sectors including automotive, food/beverage, retail, consumer products, information services, infrastructure services, training and more. MidOcean seeks opportunities valued between $150 and $750 million where it can commit $75 to $300 million. In addition to investing equity, MidOcean also looks to provide flexible credit solutions as well. MidOcean Partners was formed in 2003 and is based in New York, New York.


DEAL STATS #
Overall 22 of 36
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 10 of 18
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2015) 3 of 4
Size (of disclosed) 11 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-15 KidKraft

Dallas, Texas, United States

KidKraft is a global designer and marketer of branded innovative gifts, toys, play sets, furniture items, and juvenile products. KidKraft was founded in 1968 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-01 Image Skincare

Lantana, Florida, United States

Image Skin Care is an industry leader in the development, marketing and distribution of evidenced-based clinical products for the professional skincare channel. Image Skincare’s extensive portfolio of innovative products includes serums, moisturizers, cleansers, eye cremes, masques, peels and foundations that are sold in more than 40 countries. Image Skincare develops products with the latest anti-aging, balancing, hydrating, and illuminating technologies to further its mission of helping the world to Age Later. Image Skincare is based in Lantana, Florida.

Buy -