PLANO, Texas & CARPENTERSVILLE, Ill.--(BUSINESS WIRE)--Willis & Smith Capital and its affiliates announced today the acquisition of Performance Stamping, LLC (“Performance Stamping”). The transaction closed on August 7, 2023.
Headquartered in Carpentersville, Illinois, Performance Stamping is a leading metal stamping provider to industrial customers, including domestic and international original equipment manufacturers in a variety of industries, including appliance, automotive, water treatment, oil & gas, utilities, industrial services, and HVAC.
Founded in the 1970s, and acquired in 1979 by Scott Spencer and his father Ed Spencer, Performance Stamping has amassed an extensive portfolio of production equipment to perform custom progressive die stamping, compound and blanking die stamping, and value-added engineering services.
The company’s longtime management will continue in place, with Peter Martel acting as Chief Executive Officer, and Scott Spencer as an advisor to the company and its board of directors.
“We believe the addition of Performance Stamping to our portfolio, alongside J&E Companies, our sheet metal fabrication and machining group of companies, will provide tremendous value for their collective customers. We’re proud to offer the choice of more services at greater scale,” said Eric Willis and Terrence Smith, Co-Founders of Willis & Smith Capital. “We commend Scott Spencer and his father for their dedication in developing Performance Stamping into an organization capable of looking into the future and understanding its customers’ evolving technical and business needs.”
Scott Spencer commented: “Transitioning Performance Stamping wasn’t a decision I and the management team took lightly. We were determined to find a successor dedicated to our employees who could offer our customers synergies others couldn’t. As we got to know Eric and Terry of Willis & Smith Capital, we knew they were committed to that goal; I’m enthusiastic to continue as an advisor to the company and actively help write this next chapter.”
Promontory Point Capital provided financial advisory services to Performance Stamping, while Golan Christie Taglia LLP, provided legal advice.
Reinhart Boerner Van Deuren s.c. provided legal advice to Willis & Smith Capital.
Willis & Smith Capital is a private equity firm focused on lower middle market companies with up to $200M in annual revenue. For more information, please visit www.willis-smithcap.com.
For more information about Performance Stamping, please visit www.performancestamping.com.
