CLEVELAND, OHIO – Cleveland private equity firm CapitalWorks announced today the sale of its investment in KKSP Precision Machining, one of North America’s leading manufacturers of machined metal components produced on automatic screw machines, to Mill Point Capital a middle-market private equity firm. Terms of the deal were not disclosed.
“CapitalWorks invested alongside senior management in KKSP in 2012, and over the past five-years has supported a number of key strategic investments which have enhanced its management team, successfully consolidated and upgraded its footprint of manufacturing operations in North America and Mexico, and implemented continuous improvement strategies to drive higher levels of quality and service. Today KKSP is poised for continued growth both organically and through strategic acquisitions.” Said Dick Hollington, Managing Director of CapitalWorks, LLC.
“CapitalWorks has been an excellent strategic and financial partner for KKSP over the past 5-years, providing guidance and support wherever and whenever necessary” said Dave Dolan, President of KKSP. “We are very excited by our new partnership with Mill Point Capital and the resources they bring to KKSP, including the capability to accelerate our strategic plan with strategic acquisitions that broaden our capabilities and service offering to customers.”
Todd Martin, Managing Director of CapitalWorks commented, “we are excited to have found a partner for KKSP management that will continue to invest in future growth strategies. KKSP is another example of CapitalWorks successfully partnering with management to position businesses for future success.”
CapitalWorks was advised by Fidus Partners and Calfee, Halter & Griswold on the transaction.
About CapitalWorks
CapitalWorks LLC (capitalworks.net) is a Midwest private equity firm that encourages knowledgeable investors to partner with it in finding, vetting and owning companies. Based in Cleveland, Ohio, CapitalWorks acquires lower middle-market companies in niche manufacturing, value-added distribution, and business services industries and gives them the capital, support and freedom to grow. Recent acquisitions include CWindows, Chemtron Corporation, and Capewell Aerial Systems. Founded in 1999, the firm’s investors are primarily successful entrepreneurs and executives who contribute to the evaluation and investment process.
About KKSP Precision Machining
Headquartered in Glendale Heights, IL, KKSP Precision Machining is one of the largest manufacturers of machined metal components produced on automatic screw machines. Founded in 1968, the company has evolved into the market leader in its segment of the precision turned components industry. KKSP machines over 220 million parts annually to exacting print specifications for a diverse customer base including HVAC, fire suppression, appliance, automotive, heavy truck, plumbing, medical, and marine industries. For more information, please visit www.kksp.com.
