Dallas-based Precision Aerospace Holdings LLC, a manufacturer of aerospace and defense parts that was formed by Juniper Capital Management and CIC Partners, has bought Owens Machine and Tool Co.

Owens produces parts, tooling and prototypes focused on multi-axis machine tools and cutting tools. It was established in 1986 to develop and sell machine parts, primarily to the aerospace and defense industries. Owens is located in Lewisville, Texas and focuses on CNC (computer numerical control) machining of titanium and nickel alloys.

“The enhanced capabilities and product offerings as well as the strong operational leadership we have added with Owens will be instrumental as we continue to build on opportunities to be a value-added supplier to leading defense and aerospace companies,” comments Bryan Grabowsky, co-founder and managing partner at Juniper.

Baker Botts LLP represented Precision in connection with the transaction.