CHICAGO--(BUSINESS WIRE)--Prince Industries (“Prince”), a leading precision machining and sheet metal fabrication company and HC Private Investments (“HCPI”) portfolio company, announced the successful acquisition of Keystone Precision & Engineering (“Keystone”). This transaction will expand Prince’s capabilities and further its market reach into aerospace, defense and medical end-markets. Terms of the transaction were not disclosed.
Based in Pepperell, MA, Keystone collaborates with its defense and medical customers from product design through assembly, ensuring the delivery of high-quality, reliable components for essential end-products.
Mark Miller, Chief Executive Officer of Prince, said, “The acquisition of Keystone further enhances our production capabilities, bolsters our East Coast presence, and expands our market penetration in the defense and medical markets. Keystone's expertise in producing complex, critical parts, combined with their commitment to quality and reliability, aligns well with the Prince model.”
“Since 2007, we have dedicated ourselves to providing our customers with the highest quality workmanship, meticulous attention to detail, and reliable on-time delivery,” stated Anthony Serino and Rob Stanieich, Keystone’s Owners. “We look forward to partnering with Prince for the next chapter of growth for the business.” Mr. Stanieich will remain with the business, joining Prince as VP of Engineering.
Winston & Strawn LLP served as legal counsel to Prince Industries and HCPI. Wintrust Financial Corporation, Signature Bank, and Midwest Mezzanine Funds provided debt financing for the transaction. Veteran business advisor, Steve Lane helped advise Keystone on the transaction.
ABOUT PRINCE INDUSTRIES
Prince Industries is a precision machining and sheet metal fabrication company focused on the industrial, aerospace, and medical end-markets. Prince provides its customers with a full suite of services from engineering and product design to material selection, process mapping, welding, powder coating and assembly. Originally acquired by HCPI in 2022 and still led by its founding family member, Mark Miller, Prince has 500 employees across seven manufacturing facilities globally. For more information, please visit https://www.princeind.com.
ABOUT HC PRIVATE INVESTMENTS
HC Private Investments is a private equity investment firm focused on investing in manufacturing businesses within the consumer and industrial markets. The firm will also bring select family offices and individuals to participate in its transactions providing HCPI with a flexible and patient capital base. With a focus of being the first professional investor in a business, HCPI seeks to partner with business owners, executives and management teams to identify opportunities to remove impediments to growth enabling companies to maximize their full value potential. For more information, please visit www.hcprivateinvest.com.
