Key Takeaways
- • ATL Partners formed Precise Aerospace & Defense (Precise A&D), a new platform aimed at building a scaled, vertically integrated provider of mission-critical, highly complex components and sub-systems for the aerospace, defense, and space end markets.
- • Precise A&D's inaugural acquisition is Precise Metal Products (PMP), a Phoenix, Arizona-based airflow management solutions provider founded in 1957, acquired from affiliates of Staple Street Capital.
- • Financial terms of the transaction were not disclosed.
- • The platform will pursue organic growth at PMP alongside strategic add-on acquisitions, reflecting ATL's continued thematic focus on the aerospace and defense supply chain.
- • PMP will continue to be led by CEO Steve Bangerter and its senior leadership team.
Summary
ATL Partners, a sector-focused private equity firm investing in commercial aerospace, national security, and transportation and logistics, announced the formation of Precise Aerospace & Defense (Precise A&D) and, concurrently, the platform's first acquisition: Precise Metal Products (PMP), a leading provider of critical airflow management solutions for engine system, auxiliary power unit (APU), and environmental control system (ECS) applications. Financial terms were not disclosed.
According to the announcement distributed via Business Wire, the platform is intended to build a scaled, vertically integrated provider of mission-critical components and sub-systems for aerospace, defense, and space end markets. ATL said the platform will support PMP's continued organic growth while pursuing add-on acquisitions to broaden product offerings, capabilities, and customer relationships. The move reflects ATL's continued thematic focus on the aerospace and defense supply chain.
Founded in 1957 and headquartered in Phoenix, Arizona, PMP specializes in complex forming and fabrication through its vertically integrated engineering, manufacturing, assembly, and secondary processing capabilities. The company maintains longstanding relationships with blue-chip OEMs and Tier 1 suppliers and holds long-term agreements supporting diversified narrow-body and wide-body commercial aircraft programs as well as defense programs. PMP will continue to be led by CEO Steve Bangerter and its senior leadership team.
Mike Kramer, Partner at ATL Partners, said the acquisition and platform launch are an important step in building a leading provider of mission-critical A&D components through organic growth and disciplined M&A. Bangerter credited Staple Street Capital for its partnership and guidance in expanding PMP's production capabilities and operational excellence. The partners of Staple Street Capital, a private equity firm with approximately $900 million in capital under management, said they were proud of the partnership and confident their investments would support continued success.
Lincoln International served as exclusive financial advisor and Gibson Dunn & Crutcher as legal advisor to ATL Partners. Houlihan Lokey served as exclusive financial advisor and McDermott Will & Schulte as legal advisor to PMP and Staple Street Capital.
According to the announcement distributed via Business Wire, the platform is intended to build a scaled, vertically integrated provider of mission-critical components and sub-systems for aerospace, defense, and space end markets. ATL said the platform will support PMP's continued organic growth while pursuing add-on acquisitions to broaden product offerings, capabilities, and customer relationships. The move reflects ATL's continued thematic focus on the aerospace and defense supply chain.
Founded in 1957 and headquartered in Phoenix, Arizona, PMP specializes in complex forming and fabrication through its vertically integrated engineering, manufacturing, assembly, and secondary processing capabilities. The company maintains longstanding relationships with blue-chip OEMs and Tier 1 suppliers and holds long-term agreements supporting diversified narrow-body and wide-body commercial aircraft programs as well as defense programs. PMP will continue to be led by CEO Steve Bangerter and its senior leadership team.
Mike Kramer, Partner at ATL Partners, said the acquisition and platform launch are an important step in building a leading provider of mission-critical A&D components through organic growth and disciplined M&A. Bangerter credited Staple Street Capital for its partnership and guidance in expanding PMP's production capabilities and operational excellence. The partners of Staple Street Capital, a private equity firm with approximately $900 million in capital under management, said they were proud of the partnership and confident their investments would support continued success.
Lincoln International served as exclusive financial advisor and Gibson Dunn & Crutcher as legal advisor to ATL Partners. Houlihan Lokey served as exclusive financial advisor and McDermott Will & Schulte as legal advisor to PMP and Staple Street Capital.
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