M&A Deal Summary

Precision Castparts Acquires Southwest United Industries

On December 1, 2012, Precision Castparts acquired metals/mining company Southwest United Industries from Argonaut Private Equity

Acquisition Highlights
  • This is Precision Castparts’ 7th transaction in the Metals/Mining sector.
  • This is Precision Castparts’ 20th transaction in the United States.
  • This is Precision Castparts’ 1st transaction in Oklahoma.

M&A Deal Summary

Date 2012-12-01
Target Southwest United Industries
Sector Metals/Mining
Buyer(s) Precision Castparts
Sellers(s) Argonaut Private Equity
Deal Type Add-on Acquisition
Advisor(s) Salem Partners (Financial)

Target

Southwest United Industries

Oklahoma City, Oklahoma, United States
Southwest United Industries is a provider in complete metal finishing services as well as aviation component repair and overhaul from its 130,000 ft² facility in Tulsa. Southwest primarily serves the Aerospace & Defense industries but also supports the medical, oil & gas, and general industrial base as well.

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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 22 of 31
Sector (Metals/Mining) 7 of 9
Type (Add-on Acquisition) 18 of 26
State (Oklahoma) 1 of 1
Country (United States) 20 of 28
Year (2012) 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-09 Titanium Metals

Dallas, Texas, United States

Titanium Metals Corp. an industrial parts maker. Titanium manufacturer in the United States, offers a full range of titanium products, including ingot and slab, forging billet, and mill forms. Timet is vertically integrated, capable of making its own titanium sponge.

Buy $2.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-12 Synchronous Aerospace Group

Santa Ana, California, United States

Synchronous Aerospace Group, Inc. is a manufacturer of quality precision-machined parts and integrated kits and assemblies to the commercial and defense aerospace and space markets.

Buy -

Seller(S) 1

SELLER

Argonaut Private Equity

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Argonaut Private Equity is a private equity firm focused on control investments in entrepreneur and family-owned businesses headquartered in the middle region of the US. The Firm seeks industrial oriented manufacturing, distribution, and service companies with revenue between $20 and $300 million and EBITDA between $5 and $50 million. Argonaut typically commits $15 to $100 million per transaction to support buy-outs, distressed and special situations, growth needs, and divestitures. Argonaut Private Equity was founded in 2002 and is based in Tulsa, Oklahoma.


DEAL STATS #
Overall 3 of 11
Sector (Metals/Mining) 1 of 2
Type (Add-on Acquisition) 2 of 6
State (Oklahoma) 1 of 6
Country (United States) 3 of 11
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-28 Westec Intelligent Surveillance

Plano, Texas, United States

Westec is an interactive security company using IP-based technology to deliver proprietary services. The company provides customers with a full range of business improvement and outsourced solutions, from basic burglar alarms and quality security equipment to fully integrated interactive remote-monitoring systems.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-30 Applied Industrial Machining

Oklahoma City, Oklahoma, United States

Applied Industrial Machining engages in machining and manufacturing of oilfield products and specialized parts for a variety of industries. Applied understands how to serve customers effectively across a variety of jobs, including prototyping, hot jobs, and contract manufacturing. Applied’s strength lies in the company's commitment to meeting our customers’ needs and delivering quality work on time and within budget. Applied Industrial Machining was founded in 1986 and is based in Oklahoma City.

Buy -