Courtesy / Maine Machine Products Co.
Maine Machine Products Co., whose 65,000-square-foot plant in South Paris is shown here, is part of Precinmac.
Updated: September 3, 2021
Oxford County manufacturing holding company buys Indy firm
A South Paris-based company with seven manufacturing divisions has acquired an Indiana company with a complementary line of services.
Precinmac, whose holdings include Maine Machine Products Co. and six other divisions, has acquired Major Tool and Machine, which is based in Indianapolis.
"We are excited to expand our capabilities by adding a best-in-class large format business which expertly serves the needs of the market," said Eric Wisnefsky, CEO of Precinmac. "This acquisition is another step in the advancement of our multifaceted strategy to expand our business through acquisitions in all sectors of the industry base. Major Tool and Machine is a full complement to our existing portfolio."
Terms of the deal were not announced.
Precinmac, which is owned by private equity firms, specializes in high-precision machined components and assemblies in the aerospace and defense, semiconductor, medical and general industrial sectors. In addition to Maine Machine Products Co., it owns Hoppe Technologies, Trimaster Manufacturing, HPG, Viper Northwest and Shields Manufacturing. It has manufacturing in the U.S. and Canada.
Major Tool and Machine, which was founded in 1946, has clients in aerospace and defense, power generation, energy, semiconductor, and oil and gas markets. It offers large-format machining, fabrication and assembly services, as well as design for manufacturing assistance.
"We are very excited for both our customers and employees to join the Precinmac family of companies," said Steve Weyreter, owner of Major Tool and Machine. "It is clear that Precinmac is poised to support the continued demand of our customer base by providing additional resources with additional capital equipment and hiring of people."
Precinmac is owned by Pine Island Capital Partners LLC, Bain Capital Credit LP and Compass Partners Capital, which acquired Maine Machine Products last year.
For the deal, Precinmac was advised by Alantra, with legal counsel from Willke Farr & Gallagher LLP. Major Tool and Machine worked with Katz, Sapper, and Miller as accounting and tax advisors and Ice Miller LLP as legal advisors.
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