Graycliff Partners has invested in machine parts maker A-1 Machine Manufacturing Inc. The target’s management team has also partnered with Graycliff on the transaction.
A-1, founded in 1977 and based in Santa Clara, California, makes parts, such as sheet metal, that are used for complex equipment in the semiconductor and industrials sectors. “The company’s machining expertise and ability to perform complex assembly and integration make it poised to take advantage of increased demand from its served markets,” says Graycliff managing director Duke Punhong.
New York-based Graycliff invests up to $25 million in businesses. The PE firm made the A-1 investment of the Graycliff Private Equity Partners III fund. Financial terms were not disclosed.
There has been robust deal activity among metal parts companies. Liberty Hall Capital Partners acquired aerospace parts supplier ZTM Inc.; LFM Capital has taken a stake in hydraulic clamps maker Vektek LLC; and May River Capital purchased gears manufacturer Meca & Technology Machine Inc.