May River Capital purchased parts manufacturer Meca & Technology Machine Inc. The target’s management team, led by CEO Dean Re, is also investing alongside the PE firm. Financial terms of the deal were not disclosed.
Meca, based in Green Bay, Wisconsin, makes machine parts such as gears, cylinders. The target serves the packaging, coating and industrial sectors. Re says May River “can provide financial, strategic and professional resources required to accomplish our goals.”
May River is a Chicago-based lower middle-market private equity firm that invests up to $40 million in equity in businesses that generate between $3 million to $15 million in Ebitda. The firm has previously invested in other part manufacturers such as Pride Engineering.
Demand for parts manufacturers has been rising. Liberty Hall Capital Partners purchased aerospace parts supplier ZTM Inc.; Riverside-Backed H-D Advanced Manufacturing bought drilling motor parts distributor Numeric Machine; and Watermill Group acquired auto parts maker Experi-Metal Inc.
Davis & Kuelthau advised advised Meca. Paul Hastings LLP represented May River. Johnson Bank and Northstar Capital provided financing.