Ring Precision Components, New Vision Industries and Dieco combine into The Producto Group
Culper Capital Partners announced that it acquired Ring Precision Components, New Vision Industries and Dieco.
As a result of the acquisition of the Ring Precision, New Vision and Dieco, Culper has formed its first control platform, the Producto Group, according to a news release. Ring Precision and Dieco were sold as part of a corporate carveout from The PMT Group, while New Vision was acquired from its majority shareholder, Culper said.
Through Ring Precision and New Vision, the Producto Group will serve as a contract manufacturer and a provider of precision tooling and components for a wide variety of industries, including the medical, semiconductor, aerospace, and defense markets. Dieco will serve as the company’s distribution arm, providing custom springs, die springs, accessories, die sets and other components.
“We are excited to complete the acquisition of three great businesses to form the Producto Group,” Culper Managing Partner & CIO Adam Cook, who will serve as Producto’s non-executive chairman, said in the release. “These acquisitions should be the first of many to come for both Culper and Producto. Producto is well-positioned to satisfy its customers increased demand caused by the global supply chain crisis. We want our customers to rely on Producto as a value-added solutions provider where its products are bought and not sold, where partnership and value creation intersect in everything we do.”
Winston & Strawn served as legal advisor to Culper Capital Partners. Capital Southwest Corporation and CIBC provided financing to the buyer as part of this transaction. Duff & Phelps Securities and Withers Bergman represented The PMT Group.
“The breadth of the technological capabilities of this platform are extraordinary. Our unique offering aligns the interests of the Company, its employees, and its customers. Quality, service, and on-time delivery will always be our priority,” added Producto CEO Michael Copt. “Producto has a well-rounded offering of high-end component manufacturing coupled with precision tooling for applications ranging from injection molding tooling for medical catheters to components for unmanned aerial vehicles.”
Article source: edical Design & Outsourcing