Prince Industries, a precision machining and sheet metal fabrication company and a portfolio company of HC Private Investments, has purchased Precision Shapes Inc.
PSI operates an AS9100-certified facility providing material and precision machining to its aerospace and defense customers. The combined business has over 300 employees across four manufacturing facilities globally. The deal looks to expand Prince’s aerospace and defense capabilities. PSI will continue to be led by its executive team, including John Preiser and Jesse Palma.
“We quickly recognized they provide us not only with increased capabilities and scale, but also share our values and unwavering commitment to customers that will benefit the people we serve,” comments Susan Palma, Precision Shapes’ president and CEO.
Winston & Strawn LLP served as legal counsel to Prince Industries and HCPI. TREP Advisors served as financial advisor to PSI. Wintrust Financial Corp. provided debt financing for the transaction.