CIC Partners and Juniper Capital Form Precision Aerospace, Recapitalize Applegate EDM and Icon Machine Co.

Precision Aerospace Holdings Acquires Decatur Machine Services

July 1, 2023

Manufacturing

Precision Aerospace Holdings, a portfolio company of CIC Partners, has acquired Decatur Machine Services, a Decatur, Texas-based precision machining company serving aerospace and defense customers. The transaction is an add-on to the Precision platform intended to expand its precision machining capabilities and program footprint across defense and aerospace customers.

Precision Aerospace Holdings Acquires Owens Machine and Tool Company

May 7, 2024

Manufacturing

Dallas-based Precision Aerospace Holdings LLC, a PE-backed aerospace manufacturing platform formed by CIC Partners and Juniper Capital Management, has acquired Owens Machine and Tool Company, a Lewisville, Texas CNC machine shop specializing in titanium and nickel alloy components for the aerospace and defense markets. The deal strengthens Precision's North Texas platform and expands its precision machining and tooling capabilities; terms were not disclosed.

Precision Aerospace Holdings Acquires Clearwater Engineering

March 18, 2025

Manufacturing

Dallas-based Precision Aerospace Holdings, a portfolio company of Juniper Capital Management and CIC Partners, has acquired Clearwater Engineering, a Derby, Kansas precision machining and CNC milling company serving commercial and government aerospace customers. The add-on deal (closed March 7, 2025) expands Precision's Midwest footprint, adds machining capacity and capabilities, and brings approximately 40 Clearwater employees into the Precision platform.

Investor Group (Pine Island, Bain Capital Credit, Compass) Acquires Precinmac Precision Machining

April 2, 2020

Manufacturing

An investor group led by Pine Island Capital Partners with participation from Bain Capital Credit and Compass Partners Capital has acquired Precinmac Precision Machining from GenNx360 Capital Partners. Precinmac is a diversified manufacturer of high‑precision machined components and assemblies serving aerospace & defense, semiconductor and general industrial customers; financial terms were not disclosed.

Alleghany Capital Forms Precision Cutting Technologies and Acquires Majority Stake in CID Performance Tooling

June 24, 2019

Manufacturing

Alleghany Capital Corporation formed a new holding company, Precision Cutting Technologies, and Precision acquired a majority interest in Coastal Industrial Distributors, LLC (d/b/a CID Performance Tooling), a Saco, Maine-based manufacturer of high-performance solid carbide end mills. The move consolidates Alleghany Capital’s machine tool and consumable cutting tool businesses under a single platform to share resources and expand capabilities and end-market reach in aerospace, defense, and medical sectors.

Centerbridge Partners Acquires Precinmac LP

October 14, 2024

Manufacturing

Centerbridge Partners has agreed to acquire Precinmac LP, a precision components manufacturer serving aerospace, defense, space and semiconductor equipment markets, from an investor group including Pine Island Capital Partners, Bain Capital's Private Credit Group and Compass Partners Capital. The transaction, announced Oct. 14, 2024, is expected to close in Q4 2024 (reported closed Dec. 2, 2024 by some sources); financial terms were not disclosed.