Mill Point Buys KKSP Precision Machining

Mill Point Capital has acquired KKSP Precision Machining, a manufacturer of machined metal components, from CapitalWorks which acquired the company in May 2012.

KKSP is one of the largest manufacturers of machined metal components produced on automatic screw machines. The company has more than 425 screw machines in four locations in the US and Mexico and machines over 220 million parts annually.

The company’s brass, steel, and aluminum products are used by its customers in a wide range of applications in the HVAC, fire suppression, appliance, automotive, heavy truck, plumbing, medical and marine industries. KKSP was founded in 1968 and is headquartered near Chicago in Glendale Heights, IL (www.kksp.com).

“Our partnership with Mill Point provides meaningful resources that will allow us to accelerate our strategic plan, in particular with strategic acquisitions that broaden our capabilities and service offering to customers,” said Dave Dolan, President of KKSP. “We are very excited to partner with the Mill Point team.”

Mill Point makes control-oriented investments of $15 million to $80 million in middle-market companies that have enterprise values of $50 million to $250 million. Sectors of interest include business services and industrial. Mill Point has invested in manufacturing businesses similar to KKSP. In May 2016, the firm acquired Metal Powder Products, a Westfield, IN-based manufacturer of gears and sprockets, structural parts, high-strength aluminum parts and high-stress, wear and magnetic application components. Mill Point is based in New York (www.millpoint.com).

“We have been impressed by KKSP’s strong track record of growth and continuous improvement,” said Dustin Smith, a Partner at Mill Point. “We look forward to supporting KKSP’s management team as they advance the company’s strategic growth plan.”

CapitalWorks, the seller of KKSP, invests in companies that have revenues of $15 million to $75 million and EBITDA of $3 million to $9 million. Sectors of interest include niche manufacturing, value-added distribution, business services, aerospace and defense, and specialty chemicals. CapitalWorks was founded in 1999 by Rob McCreary and is headquartered in Cleveland (www.capitalworks.net).

© 2017 Private Equity Professional | December 6, 2017

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