Bison Capital Partners, a Los Angeles and New York-based private equity firm, and Angeles Equity Partners, a lower middle-market private equity investment firm, have acquired Precision Surfacing Solutions, a manufacturer of precision machinery.

PSS provides precision machinery for lapping, grinding, cutting and polishing substrates used in the manufacture of precision parts in semiconductor, aerospace and industrial markets. PSS will now operate as two autonomous businesses: the Flat Finishing Group and the Surface Profile Group.

“We believe that PSS is well-placed to support the expansion of semiconductor manufacturing globally and to benefit from industrial reshoring as a result of global supply chain disruption,” comments Martin Mumford, operating partner, and Frank Spelman, managing director at Angeles.