Alantra advises Precinmac on the acquisition of Petersen Incorporated
SECTORAerospace & Defense; Industrials
BOSTON – Alantra, a leading global investment bank and asset management firm, is pleased to announce that Precinmac Precision Machining (“Precinmac”) has acquired Petersen Incorporated (“Petersen”), a one-stop-shop for niche, mission-critical manufactured parts serving the aerospace & defense, nuclear, and industrial sectors. The transaction closed on April 1, 2022, and terms were not disclosed.
Based in Ogden, Utah, Petersen provides custom steel fabrication, manufacturing, and precision machining services, in addition to warehousing and field installation services. The company employs over 500 people across its manufacturing and warehouse facilities in Utah and Idaho.
“This deal further diversifies Precinmac’s offerings and is another excellent credential for Alantra’s aerospace & defense practice,” said Wade Aust, Managing Partner with Alantra and head of the US Aerospace & Defense sector team. This is the fourth acquisition Alantra has completed for Precinmac and is the tenth aerospace & defense related transaction for Alantra in the past 15 months.
“We are excited to continue our expansion by adding another best-in-class large format business which expertly serves the needs of the market,” said Eric Wisnefsky, CEO of Precinmac, in a company statement. “This business is complimentary to the recent acquisition of Major Tool and Machine which was added to our portfolio in September of 2021.”
“We are thrilled to continue to assist Precinmac with their successful search for leading businesses as they continue to broaden their areas of expertise,” said David Waldstein, Managing Director with Alantra. “Petersen helps to solidify Precinmac as the premier North American provider for highly-complex machined and fabricated components and adds to its large format manufacturing capabilities.”
The Alantra US team advising Precinmac included Mr. Aust, Mr. Waldstein, and Austin Brown (Analyst, Boston).
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