Precision Machine & Manufacturing management buyout complete

By |  March 23, 2014

Precision Machine & Manufacturing Co. (PMM) has been acquired from its owners in a management buyout.

Kirk Morton, director of the company’s sales and production operations since 2011, led the investment team. Private equity firms Central Valley Fund and Socius Capital Group provided the funding to support the acquisition. In addition, Morton, who is now company president, made a significant personal investment as part of the buyout, according to the company. Owners Jim and Colleen Miller have retired.

“The acquisition brings additional capital to the company to help accelerate our long-held strategy of expanding our geographic footprint and broad portfolio of products and services,” says Morton.  “PMM has a demonstrated track record of growth, and we will continue to improve our position as a valued partner to our customers and vendors.”

Launched in 1977, PMM is a designer and manufacturer of precision rotary valves, feeders and screw conveyor material handling systems and components. Although it initially targeted the wood products industry, the introduction of the modular PMV rotary valve allowed the company to expand into the mining, cement, co-generation, chemical and pharmaceutical industries, among others. It also manufacturers feeders and parts for the blower truck industry, and offers custom machining and fabrication services, utilizing the latest CNC and robotic equipment.

This article is tagged with , , and posted in News

About the Author:


Comments are closed