Generation Growth Capital announced the sale of Atlantic Precision, Inc. ("API") to Precision Castparts Corp. Imperial Capital acted as the exclusive financial advisor to API on the transaction. Terms of the deal were not disclosed.
Based in Port St. Lucie, FL, API is an aerospace machining provider also offering metal 3d printing and additive manufacturing services to the aerospace and defense industries.
GGC invested in API in October, 2014 to help the company execute on a growth and development strategy in additive manufacturing. During the two years of GGC's ownership, API developed strong competencies in additive manufacturing and experienced rapid growth in its core markets.
"When GGC was first introduced to the team at API, we recognized their initial efforts in additive manufacturing could be a real game changer for prototyping and manufacturing in the aerospace markets. We are proud to have had the chance to work with the team to support their growth and we look forward to watching their continued success as a part of Precision Castparts," said John Reinke, Managing Director of Generation Growth Capital, Inc.
"API represented a model investment for GGC. We were able to provide capital and a business support system that helped the company execute on an aggressive investment and growth strategy," said Cory Nettles, Managing Director of Generation Growth Capital, Inc.