Angle Advisors has announced that Mill City Capital L.P. has acquired HN Precision Co., a Cerberus Business Finance LLC portfolio company. Angle Advisors acted as the exclusive investment banking adviser to HN Precision in completing this transaction.
Based in Lake Bluff, Illinois, HN Precision is a leading manufacturer of precision-machined products serving a diverse blue-chip customer base across multiple end markets, including heavy trucks, off-highway vehicles recreational firearms, rails and general industrial equipment. With more than 175 CNC machines and facilities in the Midwest and Northeast United States, HN Precision’s broad range of process technologies includes horizontal milling and turning, vertical milling, gun drilling, honing, broaching, centerless grinding, screw machining and laser etching. The company’s 240 employees include more than 150 skilled machine operators and 12 manufacturing engineers.
“I am very proud of how our business has evolved over the past several years, both through diversification of end markets and steady growth in five key industries. Our team is confident that Mill City can help us extend and enhance our ongoing growth strategy,” said Dan Nash, CEO of HN Precision. “I enjoyed working with the Angle team, and especially appreciated their attentiveness and dedication to a quick moving process and transaction.”
Joseph Naccarato, chief operating officer at Cerberus Business Finance, said, “HN Precision is an excellent company with a tremendous management team. We were impressed with Angle Advisors’ ability to understand its business and industry dynamics and execute a strategic transaction with a great financial sponsor in Mill City.”
“The Mill City team has a successful history investing in precision machining businesses, making HN Precision a great fit,” said Zander Rutlin, managing director at Mill City Capital. “HN Precision’s management team and long-standing customer relationships across multiple industry verticals evidences a platform with significant upside. The business has a disciplined approach of perfecting manufacturing processes which aides and supports new business generation. There is a strong foundation at HN Precision that we look forward to growing with Dan and his team.”
