ATL Partners has formed Precise Aerospace & Defense (Precise A&D), a New York-based lower mid-market platform focused on highly complex components and sub-systems for aerospace, defense and space. The firm announced the platform’s first acquisition: Precise Metal Products (PMP) from affiliates of Staple Street Capital. PMP provides airflow management services for engine systems, auxiliary power units and environmental control systems.
ATL partner Michael Kramer said the platform builds on a long-held thesis in the aerospace and defense supply chain, targeting mission-critical components for high-growth platforms backed by record backlogs and strong market tailwinds. Precise A&D aims to become a scaled, vertically integrated provider through organic growth and disciplined M&A. Kramer highlighted PMP’s engineering and manufacturing strengths, noting customers rely on it for complex parts most suppliers cannot execute reliably.
PMP’s products are qualified onto long-lived narrow-body, wide-body and defense programs. In financial services, Rhône has agreed to sell Paragon Films to Atlantic Ridge Capital and Grafine Partners for around $900 million. PE Hub also reported earlier this year that Lovell Minnick Partners closed a single-asset continuation vehicle for SRS Acquiom, led by Carlyle Alp Invest.
SRS Acquiom has since acquired Pantarai, a loan technology and services provider for broadly syndicated loan and private credit markets. Brad Armstrong, a partner at LMP, discussed SRS’ growth strategy, including its post-CV acquisition activity.
Source: PE Hub · Summarized by HeadlinesBriefing