HC Private Investments, a Chicago-based family office private equity firm, and Isleworth Capital Partners have made a strategic partnership with Prince Industries, a precision machining and sheet metal fabrication firm. Following the deal, industrial executives Frank Feraco and Ryan Sullivan will join the firm’s board of directors, while Mark Miller will continue as CEO and retain a significant investment in the firm.
The investment will be used to advance Prince’s growth plans while expanding the firm’s operational capabilities. Prince designs and manufactures precision machined and sheet metal fabricated components and assemblies for end markets including telecommunications, hydraulics, medical and dental, computer-peripheral equipment, and electronics.
“Over the past six decades, Prince Industries has distinguished itself through an unwavering focus on quality, innovation, and service in support of its many great customers,” added CPI Managing Partners John Kelly and Matthew Moran. “We are excited to partner with Mark Miller and his team to support Prince’s continued growth and market expansion. We have great respect for the business and team Mark and his family have built and fully intend to preserve the Company’s deep commitment to the Carol Stream community.”
Winston & Strawn LLP served as legal counsel to HCPI. Wintrust Financial Corp. and Midwest Mezzanine Funds provided debt financing for the transaction. The Chicago Corp. acted as financial advisors to Prince.