Hastings Equity Partners Completes Sale of Advanced Precision Products, Inc.04-Sep-2014
Hastings Equity Partners ("Hastings"), a private equity firm focused on investing in lower middle market energy services and equipment companies, is pleased to announce the sale of Advanced Precision Products, Inc. ("APP") to Precision Engineered Products, LLC ("PEP"). PEP is a portfolio company jointly owned by The Jordan Company, a New York based private equity fund, and Nautic Partners, a Providence, RI based private equity fund.
Headquartered in Palmer, MA, Advanced Precision Products, Inc is a leading manufacturer of highly engineered components and products for oil &gas, medical, aerospace, automotive, military and commercial OEMs. APP also operates facilities in Hingham and Franklin, MA.
"Jeff and his management team have done an exceptional job at building APP into one of the leading precision component manufacturers," said Bruce MacRae, Hastings’ Managing Director. “Through the acquisition and integration of four companies, Jeff has created a robust manufacturing platform.”
Jeff Buck, APP CEO, said, “We’ve really enjoyed working with the Hastings team and appreciate their support and guidance over the years. We expect APP’s growth to remain strong and look forward to being part of PEP where we can leverage their resources to further build on our success.”
Trudeau & Trudeau Associates, Inc. served as financial advisor to APP while Morse, Barnes-Brown & Pendleton, PC served as legal counsel to the shareholders of Advanced Precision Products in the transaction.
About Hastings Equity
Hastings Equity Partners is a private equity firm focused on investing in lower, middle-market energy services and equipment businesses. Hastings' approach is to leverage the extensive operational experience of the firm's managers and investors, many of whom are active or former CEOs of Fortune 1000 companies. In addition, due to the firm's expanding portfolio of oilfield services companies, it is able to share best practices, technology trends and contacts across its platform to ensure that all of its investments benefit. Hastings strives to help its portfolio companies create sustained value for their employees, customers, and investment partners.