ATL Partners (“ATL”), a premier sector-focused private equity firm investing in commercial aerospace, national security, and transportation and logistics, today announced the formation of Precise Aerospace & Defense (“Precise A&D”), a new platform focused on building a scaled and vertically-integrated provider of mission critical, highly complex components and sub-systems for the aerospace, defense, and space end markets.

Concurrently, ATL announced Precise A&D’s inaugural acquisition of Precise Metal Products (“PMP” or the “Company”), a leading provider of critical airflow management solutions for engine system, auxiliary power unit, and environmental control system applications, from affiliates of Staple Street Capital. Financial terms of the transaction were not disclosed.

The formation of Precise A&D reflects ATL’s continued thematic focus on the aerospace and defense supply chain sectors. Through the platform, ATL intends to support PMP’s continued organic growth while pursuing strategic add-on acquisitions to expand its product offerings, capabilities, and customer relationships.

Founded in 1957 and headquartered in Phoenix, Arizona, PMP specializes in complex forming and fabrication solutions enabled by its vertically-integrated engineering, manufacturing, assembly, and secondary processing capabilities. The Company maintains longstanding relationships with blue-chip OEMs and Tier 1 suppliers and holds long-term agreements supporting a diversified set of narrow-body and wide-body planes as well as defense programs. PMP will continue to be led by Chief Executive Officer Steve Bangerter and its senior leadership team.

“The acquisition of PMP and launch of Precise Aerospace & Defense is an important step in building a leading provider of mission-critical A&D components through organic growth and disciplined M&A,” said Mike Kramer, Partner at ATL Partners. “PMP’s vertically-integrated capabilities, long-tenured customer relationships, and disciplined operating culture make it the ideal foundation for the platform. We look forward to partnering with Steve and his team to accelerate growth, expand capacity, and pursue strategic acquisitions across the sector.”

Steve Bangerter, Chief Executive Officer of Precise Metal Products, added, “We want to thank Staple Street Capital for their partnership and guidance, which has been instrumental in helping us expand our production capabilities, drive growth, and promote a culture of operational excellence across our organization. Joining forces with ATL Partners and launching Precise Aerospace & Defense is an exciting next chapter for PMP. ATL’s deep sector expertise and operating resources will help us to build on the foundation we have established over more than six decades, continue investing in our people and equipment, and better serve our customers as we grow the platform together.”

The partners of Staple Street Capital said, “We want to thank the Precise Metal Products team for their leadership and hard work. We are proud of the partnership we developed with the Company and are confident that the investments we have made in PMP will support continued success in the years ahead.”

Lincoln International served as exclusive financial advisor and Gibson Dunn & Crutcher served as legal advisor to ATL Partners. Houlihan Lokey served as exclusive financial advisor and McDermott Will & Schulte served as legal advisor to PMP and Staple Street Capital.

About ATL Partners

Founded in 2014, ATL Partners is a premier sector-focused private equity firm that invests in commercial aerospace, national security, and transportation & logistics companies. ATL brings deep sector expertise to its investment approach with experienced investment professionals and strong operating executives who have decades of combined experience in each of ATL’s core sectors. For more information about ATL Partners, visit www.atlpartners.com.

About Staple Street Capital

Staple Street Capital is a leading private equity firm with approximately $900 million of capital under management and invests in market-leading businesses where there are transformational opportunities to create value. Staple Street Capital helps companies capitalize on new opportunities to build stronger, more valuable businesses. For more information, see www.staplestreetcapital.com.

About Precise Aerospace & Defense

Precise Aerospace & Defense is a platform formed by ATL Partners to build a scaled advanced manufacturing provider of critical components and sub-systems for the aerospace, defense, and space end markets. Through organic growth initiatives and a disciplined add-on acquisition strategy, Precise A&D partners with best-in-class manufacturers to expand their product offerings, capabilities, and customer relationships across the aerospace and defense supply chain. Precise Metal Products represents the platform’s inaugural investment. For more information about Precise Aerospace & Defense, visit www.preciseaerodefense.com

About Precise Metal Products

Founded in 1957 and headquartered in Phoenix, Arizona, Precise Metal Products is a leading provider of critical airflow management solutions for engine system, APU, and ECS applications. PMP’s vertically-integrated capabilities span engineering, manufacturing, assembly, and secondary processing, supporting longstanding relationships with leading OEMs and Tier 1 suppliers. For more information about Precise Metal Products, visit www.precise-metals.com

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