HN PRECISION HAS BEEN ACQUIRED BY MILL CITY CAPITAL
Birmingham, Michigan – January 26, 2018 – Angle Advisors is pleased to announce that Mill City Capital, L.P. (“Mill City Capital”) has acquired HN Precision Company (“HN Precision” or the “Company”), a Cerberus Business Finance, LLC portfolio company. Angle Advisors acted as the exclusive investment banking advisor to HN Precision in completing this transaction.
Based in Lake Bluff, IL, HN Precision is a leading manufacturer of precision machined products serving a diverse blue-chip customer base across multiple end markets including heavy truck, off-highway vehicle, recreational firearms, rail, and general industrial. With over 175 CNC machines and facilities in the Midwest and Northeast United States, HN Precision’s broad range of process technologies includes horizontal milling and turning, vertical milling, gun drilling, honing, broaching, centerless grinding, screw machining and laser etching. The Company’s 240 employees include over 150 skilled machine operators and 12 manufacturing engineers.
“I am very proud of how our business has evolved over the past several years, both through diversification of end markets and steady growth in five key industries. Our team is confident that Mill City can help us extend and enhance our ongoing growth strategy,” said Dan Nash, Chief Executive Officer of HN Precision. “I enjoyed working with the Angle team, and especially appreciated their attentiveness and dedication to a quick moving process and transaction.”
Joseph Naccarato, Chief Operating Officer at Cerberus Business Finance said, “HN Precision is an excellent company with a tremendous management team. We were impressed with Angle Advisors’ ability to understand its business and industry dynamics and execute a strategic transaction with a great financial sponsor in Mill City.”
“The Mill City team has a successful history investing in precision machining businesses, making HN Precision a great fit,” said Zander Rutlin, Managing Director at Mill City Capital. “HN Precision’s management team and long-standing customer relationships across multiple industry verticals evidences a platform with significant upside. The business has a disciplined approach of perfecting manufacturing processes which aides and supports new business generation. There is a strong foundation at HN Precision that we look forward to growing with Dan and his team.”
Based in Minneapolis, Minnesota, Mill City is a private equity firm that makes control investments in lower middle market companies with enterprise values ranging between $30 million and $150 million. Mill City focuses on companies headquartered in the Midwestern United States and western and central Canada, with a particular focus on companies located in the Upper Midwestern states of Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota where Mill City Capital’s investment team has built a vast network of relationships through their collective 100+ years of doing business in the region. For more information, please visit www.millcitycapital.com.
Angle Advisors, with offices in the United States, Germany, and China, specializes in mergers and acquisitions and capital raising with a particular emphasis on the vehicular and industrial sectors. The firm's professionals have completed 185 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.