CIC Partners and Juniper Capital, two Dallas-based private investment firms, have partnered to form Precision Aerospace Holdings. The deal follows Precision’s purchase of Applegate EDM LLC and Icon Machine Co.
Precision Aerospace is a manufacturer of complex components for critical space, aerospace and defense programs. Applegate provides electrical discharge machining value-added services. Icon offers precision machining and manufacturing with a focus on critical, tight-tolerance parts and components.
“Both Applegate and Icon have developed a best-in-class reputation for precision machining and EDM services by consistently meeting difficult quality and delivery standards on challenging and complex metals,” said Pete Stegmaier, CEO of Precision. “Combining Applegate and Icon under the Precision Aerospace umbrella will make the whole even greater than the individual parts.”