Trending...
- Aug. 11 (8/11) Serves as Reminder for Illinois Residents to Always Contact 811 Before Digging
- SIGGRAPH 2022 Hybrid Conference Enjoys Notable Numbers with In-Person and Virtual Attendees
- JohnsByrne Announces Acquisition and Installation of New Heidelberg Press
GLENDALE HEIGHTS, Ill.--(BUSINESS WIRE)--Mill Point Capital LLC ("Mill Point Capital"), a private equity firm focused on control-oriented investments in the industrials, business services and IT services sectors, announced today a majority sale of KKSP Precision Machining LLC ("KKSP"), one of North America's leading manufacturers of precision metal components, to Pine Grove Holdings LLC ("Pine Grove"), an executive-led operations and investment firm focused on companies with high engineering content. Mill Point will maintain a minority stake in the business going forward.
Since its 2017 acquisition by Mill Point Capital, KKSP has experienced tremendous success through the enhancement of technical capabilities, strategic M&A and rapid expansion into the Northeastern United States region and catalog components market.
"We are very proud of our successful partnership with Dave Dolan and the entire KKSP team, as well as the many achievements during our partnership," said Mark Paolano of Mill Point Capital. "Since our initial transaction in 2017, we successfully executed on our Value Creation Plan, creating an industry leader poised to thrive in its market. We are also thrilled to partner with Nelda J. Connors of Pine Grove Holdings and support the continued growth of KKSP."
"KKSP has an impressive legacy of world-class product quality and customer service across its five facilities in the U.S. and Mexico," said Nelda J. Connors, Founder and CEO of Pine Grove Holdings. "The growth potential of KKSP is exciting as we work alongside the KKSP leadership team and its employees to realize additional business potential and value for our customers."
More on illi News
"By partnering with Pine Grove, and through Mill Point's continued involvement, this transaction demonstrates KKSP's ability to attract and work alongside preeminent investment partners to expand capabilities and services for its customers and deliver value to its investors. We look forward to the next phase of KKSP's evolution and working closely with Nelda J. Connors and Pine Grove," said Dave Dolan, President and CEO of KKSP Precision Machining.
About KKSP Precision Machining
Headquartered in Glendale Heights, IL, KKSP Precision Machining LLC is one of the largest manufacturers of machined metal components produced primarily on automatic screw machines. Founded in 1968, the company has evolved into a leading player in the precision turned components industry with facilities in Illinois, Wisconsin, Michigan, Mexico, and Connecticut. KKSP operates over 570 primary machines and produces over 350 million parts annually to exacting print specifications for a diverse customer base including HVAC, fire suppression, appliance, defense, automotive, heavy truck, plumbing, medical and marine industries. For more information, please visit www.kksp.com.
More on illi News
About Mill Point Capital
Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies in North America across the industrials, business services and IT services sectors in North America. Mill Point's experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.
About Pine Grove Holdings
Pine Grove Holdings LLC is a privately held investment company focused on acquiring and operating middle-market businesses with a high engineering component. These investments are primarily focused in power generation, specialty logistics and transportation, SAAS and advanced materials. Pine Grove Holdings is based in Chicago, IL. For more information, please visit www.pinegroveholdings.com.
Contacts
Jiaeh Kim, (212) 416-5800, info@millpoint.com
Since its 2017 acquisition by Mill Point Capital, KKSP has experienced tremendous success through the enhancement of technical capabilities, strategic M&A and rapid expansion into the Northeastern United States region and catalog components market.
"We are very proud of our successful partnership with Dave Dolan and the entire KKSP team, as well as the many achievements during our partnership," said Mark Paolano of Mill Point Capital. "Since our initial transaction in 2017, we successfully executed on our Value Creation Plan, creating an industry leader poised to thrive in its market. We are also thrilled to partner with Nelda J. Connors of Pine Grove Holdings and support the continued growth of KKSP."
"KKSP has an impressive legacy of world-class product quality and customer service across its five facilities in the U.S. and Mexico," said Nelda J. Connors, Founder and CEO of Pine Grove Holdings. "The growth potential of KKSP is exciting as we work alongside the KKSP leadership team and its employees to realize additional business potential and value for our customers."
More on illi News
- Boom Boom Firearms Training LLC., Is Hosting Maryland Wear & Carry Permit (CCW) 16-Hour Courses For Eligible MD Residents & Non Residents
- Improvement, data science pros to convene in Atlanta Sept. 19-21
- Multi #1 International Best-Selling Author Jennifer S. Wilkov Announces the 2022 October Speak Up Women Conference and Last Call For Speakers
- IRI and Ajinomoto Foods Expand Partnership to Proactively Combat Supply Issues
- Mandarina Houses presents a comprehensive solution to your real estate needs
"By partnering with Pine Grove, and through Mill Point's continued involvement, this transaction demonstrates KKSP's ability to attract and work alongside preeminent investment partners to expand capabilities and services for its customers and deliver value to its investors. We look forward to the next phase of KKSP's evolution and working closely with Nelda J. Connors and Pine Grove," said Dave Dolan, President and CEO of KKSP Precision Machining.
About KKSP Precision Machining
Headquartered in Glendale Heights, IL, KKSP Precision Machining LLC is one of the largest manufacturers of machined metal components produced primarily on automatic screw machines. Founded in 1968, the company has evolved into a leading player in the precision turned components industry with facilities in Illinois, Wisconsin, Michigan, Mexico, and Connecticut. KKSP operates over 570 primary machines and produces over 350 million parts annually to exacting print specifications for a diverse customer base including HVAC, fire suppression, appliance, defense, automotive, heavy truck, plumbing, medical and marine industries. For more information, please visit www.kksp.com.
More on illi News
- GTCR Forms Portfolio Resources Group to Support Portfolio Company Growth
- Bundledocs launch new Cloud PDF Editor as part of their entry into North American market
- Monroe Capital Supports Clarion Capital Partners' Recapitalization of Premiere Digital Services
- Non-profit Responds to Post Covid Needs
- Walgreens Boots Alliance Sells 11 Million Shares of Option Care Health
About Mill Point Capital
Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies in North America across the industrials, business services and IT services sectors in North America. Mill Point's experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.
About Pine Grove Holdings
Pine Grove Holdings LLC is a privately held investment company focused on acquiring and operating middle-market businesses with a high engineering component. These investments are primarily focused in power generation, specialty logistics and transportation, SAAS and advanced materials. Pine Grove Holdings is based in Chicago, IL. For more information, please visit www.pinegroveholdings.com.
Contacts
Jiaeh Kim, (212) 416-5800, info@millpoint.com
Filed Under: Business
0 Comments
Latest on illi News
- Ansira Accelerates Growth Heading Into Second Half of 2022 Driven By Significant Client Wins, Product Enhancements, and Continued Industry Accolades
- Ironside Human Resources Ranks No.765 on the 2022 Inc. 5000 Annual List
- CareWell Health Medical Center Expands Leadership Team, Adds New COO
- Global Workplace Mental Health Provider CuraLinc Healthcare Debuts on the Inc. 5000 List
- BigTime Software Named to 2022 Inc. 5000 List of Fastest Growing Companies in America
- Tales of Wonder and Dread To Mark Anniversary With New Books
- Arizona Fireplaces Ranks No. 3277 on the 2022 Inc. 5000 Annual List
- Motherly Named to 2022 Inc. 5000 Annual List Among America's Fastest-Growing Private Companies
- HAMILTON BEACH BRANDS HOLDING COMPANY TO PARTICIPATE IN MIDWEST IDEAS INVESTOR CONFERENCE
- Summit Report Released: Keeping Schools Open in 2022 and Beyond
- The BGL Industrials Insider -- Industrial Distribution M&A Remains Active Amid Market Uncertainty
- Rock Guitarist Reveals Secrets Of Sweep Picking Technique
- Illinois American Water Announces 2022 Firefighter Grant Program
- InventHelp Inventors Develop Portable Cigar/Cigarette Holder (CHK-114)
- Bold New Book, If Only We Knew, Offers A Framework To Understand And Solve Today's Social Issues
- Living Waters Inc to Host the "2022 Mental Health Summit"
- Lincoln Private Market Index Experiences First Decline Since Q1 2020
- Wood Underwear® FW22 Introduces New Styles in Lounge
- Winston & Strawn Adds Corporate Partner Aaron Berlin in Chicago
- Loxperts Inc. launches the first-ever on-demand freelancer marketplace dedicated to localization experts