Private equity firm Generation Growth Capital, Inc. (GGC) has announced that it has acquired Atlantic Precision, Inc. (API) to join its Model 2 Machine Group platform of companies.
Atlantic Precision is an aerospace machining, design and build company that utilises the latest 3D metal printing and Additive Manufacturing technologies to provide prototyping and low volume production parts that meet the highest standards of the aerospace industry.
The Model 2 Machine Group (M2M) was established in 2011 by GGC to provide a broad range of services to assist OEM customers with the transition of parts and products from research and development to full production. With the addition of API, the M2M Group now consists of five companies; Atlantic Precision, Inc., M2M Machining, Inc., Mica Tool & Manufacturing, LLC, Tri Aerospace, LLC, and Clinkenbeard & Associates, Inc.
The existing management team of API will continue operating the business following the transaction and GGC expects to continue the company’s tradition of investing in the latest manufacturing technologies. “Having worked with Tri Aerospace on past projects, we understood how our respective companies could come together to bring a broader array of services and production capabilities under a common touch point for our customers,” stated Tim Ritter, President and co-owner of API.
Chuck Madore, CEO of M2M stated, “The acquisition of API really solidifies our capabilities in the aerospace industry. The addition of direct metal laser sintering (DMLS), multi-axis wire EDM, and additional 5-axis machining capacity rounds out the current offerings at Clinkenbeard and Tri Aerospace. All three companies have already begun to work in concert and we are quite excited to drive the Model 2 Machine Group strategy forward.”
John Reinke, Managing Director of Generation Growth Capital, added, “We have been looking for a company like API for over two years and we are thrilled to partner with Tim Ritter and his talented team at API. In addition to cutting-edge technology, API has a solid reputation as key problem solvers for their OEM customers. This partnership mentality fits well within the M2M culture.”