Precision Castparts Corp. recently purchased a specialty aerospace machining and additive manufacturing operation from a private-equity fund, Generation Growth Capital Fund II LP. Neither the buyer nor the seller has disclosed the sale price. Atlantic Precision Inc. (API) has multiple capabilities, centering its design and production on direct metal laser sintering (DMLS.)
DMLS is an additive manufacturing, or 3D printing (3DP) process that uses laser power to melt powdered alloys deposited according to a pattern derived from a CAD program, building the component structure in layers.
Portland-based PCC manufactures complex metal components for aerospace and energy markets, with three divisions that focus on forgings, investment castings, and fasteners and airframes. Atlantic Precision represents its first major deal since PCC was acquired by Berkshire Hathaway in 2015. However, from 2010 through 2013, Precision Castparts completed a series of acquisitions that expanded its position in the aerospace materials and components supply chain — capped by its $2.9-billion purchase of the integrated titanium metal producer, Timet.
API, Port St. Lucie, FL, is an aerospace machining, design, and build operation centered on direct metal laser-sintering, with multi-axis wire EDM, blue light inspection, welding, and multiple capabilities for milling and turning. The company’s website displays an extensive sequence of sample products, including rotary system casings, bladed parts, blisks, and structural elements.
Generation Growth Capital acquired API in October 2014. “When GGC was first introduced to the team at API, we recognized their initial efforts in additive manufacturing could be a real game changer for prototyping and manufacturing in the aerospace markets. We are proud to have had the chance to work with the team to support their growth and we look forward to watching their continued success as a part of Precision Castparts,” stated the fund’s managing director, John Reinke.
