Precinmac to Acquire Petersen Inc.

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SOUTH PARIS, Maine & OGDEN, Utah–(BUSINESS WIRE)–Precinmac, a diversified manufacturer of high-precision machined components and assemblies, announced today that it has acquired Petersen Inc., an award winning provider of high-quality industrial products and services. The addition expands Precinmac’ s capabilities and product offerings to better serve the aerospace and defense, semiconductor, power generation/energy, medical, and general industrial sectors.

Founded in 1961 with locations in Ogden, Utah, and Pocatello, Idaho, Petersen Inc. serves the aerospace, defense, entertainment, industrial, mining, nuclear, and petrochemical industries with a diversified range of specialized fabrication, precision machining and advanced manufacturing services. Over time, Petersen Inc. has grown to provide warehouse/distribution (3PL), field installations, and design engineering services.

We are excited to continue our expansion by adding another best-in-class large format business which expertly serves the needs of the market,” said Eric Wisnefsky, CEO of Precinmac. “This business is complimentary to the recent acquisition of Major Tool and Machine which was added to our portfolio in September of 2021.”

With its eight divisions- Maine Machine Products Company, Hoppe Technologies, Trimaster Manufacturing, HPG, Viper Northwest, Shields Manufacturing, Major Tool and Machine, and now Petersen Inc., Precinmac specializes in precision milling and turning, multi-axis machining, grinding, close tolerance fabrication, and complex components. Precinmac is a critical supplier to a wide range of prime contractors that rely on the company’s high precision manufacturing capabilities and expertise. From its integrated manufacturing locations in the U.S. and Canada, Precinmac provides broad capabilities and expertise to these high requirements industries.

We are very excited to join the family of companies in Precinmac,” said Steve Petersen, Chairman of Petersen Inc. “Precinmac is poised to support our customers and team members which are the foundation of our success. They understand our business and will invest in our future and continued growth.”

We have built an amazing company which in turn supports our team members and surrounding communities,” said Mark Jenkins, CEO of Petersen Inc. “The entire Petersen Inc. team looks forward to continuing to provide the highest quality products and services for our customers worldwide.”

About Precinmac

Precinmac (https://www.precinmac.com) is a leading diversified manufacturer of high-tolerance precision machined components and assemblies. The Precinmac brand represents a family of eight operating companies in the United States and Canada- Maine Machine Products Company, Hoppe Technologies, Trimaster Manufacturing, HPG, Viper Northwest, Shields Manufacturing, Major Tool and Machine, and Petersen Inc.

Precinmac is owned by Pine Island Capital Partners, LLC, Bain Capital Credit, LP, and Compass Partners Capital.

Alantra served as financial advisors and Willke Farr & Gallagher, LLP and Weil, Gotshal & Manges LLP served as legal advisors to Precinmac. Stout served as accounting and tax advisors, and Polsinelli as legal advisors to Petersen Inc.

About Petersen Inc.

Petersen Inc. is a worldwide industry leader in custom fabrication, precision machining, and manufacturing services. They take great pride in delivering the highest quality, on-time products to their customers, and serve many diverse industries such as aerospace, entertainment, industrial/mining, and nuclear. Petersen Inc. manufactures everything from roller coasters, mining equipment and small, intricate machined parts- to melters, gloveboxes, and dry fuel storage casks for the nuclear industry.

Contacts

Nicole Wetzler
P 317-917-4075

C 706-504-1415