Precision Aero

Situation

Precision Aero Corporation (“Precision Aero” or the “Company”), based in Troy, Ohio, is a leading manufacturer of extensively engineered, high-precision, machined aircraft components. The Company was founded in 1962 and primarily serves the aircraft (both commercial and military) and commercial vehicle markets.

The Company pioneered the manufacturing process of its core product, the fusible plug. Fusible plugs are safety-critical, thermal pressure relief devices used in wheel and brake assemblies on virtually all commercial aircraft globally. In addition to fusible plugs, the Company manufactures washers, adjuster balls, bushings, spacers and pistons, among other components.

Precision Aero’s sole owner (and son of the Company’s founder) sought a value-maximizing sale process that would place ownership in the hands of a buyer that would (i) value the Company’s existing employees, production capabilities and customers and (ii) bring the necessary resources to accelerate available growth opportunities.

Solution

Company engaged Amherst Partners (“Amherst”) to lead a semi-broad sale process that would maximize value and identify a partner with the expertise and resources required to continue building upon the Company’s legacy by enhancing its capabilities, reputation, and industry expertise.

Results

The sale process yielded a significant number of proposals from prospective buyers at attractive valuations. Precision Aero ultimately completed a transaction with H-D Advanced Manufacturing Company (“H-D”). H-D is a portfolio company owned by private equity firms The Riverside Company, Hicks Equity Partners, and Weinberg Capital Group.

The Company’s owner transferred 100% of his ownership interest to H-D. Precision Aero’s VP of Operations, who runs day-to-day operations, would lead the Company post transaction and work with the new owners to pursue additional growth opportunities