About the Transaction
Midwest Precision, located in Eastlake (Cleveland), Ohio is a manufacturer of complex precision CNC machined components and proprietary industrial automation products to Fortune 500 customers primarily in the Aerospace, Defense, Energy, and Engineered Products markets. The purchase of Midwest Precision was the fourth acquisition for Tribus Aerospace since its inception in 2017.
Midwest Precision’s state-of-the-art manufacturing capabilities include milling, turning, and EDM capabilities with the ability to produce complex parts and shapes from difficult to machine materials with close tolerances to 0.0005”. The Company focuses on producing short to medium size production runs (50 to 50,000 pieces) and operates with “lights out” capable production equipment allowing for unattended third shift and weekend production. The Business is AS9100D and ISO 9001 certified.
Tribus Aerospace was formed in 2017 to build a world class manufacturer serving the Aerospace, Defense, and Industrial markets. The Company produces both components and assemblies for mission critical engine, motion control, and flow control systems. In addition to Midwest Precision, the operations of Tribus Aerospace include: Precision Aerospace Corp., Precision Micro Mill Corporation and Advanced Machining & Tooling. Shorehill Capital, a Chicago-based private equity firm, is the majority shareholder of Tribus Aerospace.
Paramax Corporation, and its wholly owned subsidiary Paramax Securities, LLC, is a FINRA-registered investment banking firm focused on advising companies and shareholders in sell-side M&A transactions to strategic buyers at after-tax optimized prices. Paramax is headquartered in Williamsville, NY with an International reach through its partnership with Globalscope Partners, a leading group of corporate finance and business advisors operating globally to support M&A transactions. In addition to its sell-side advisory practice, Paramax engages with clients on buy-side and recapitalization transactions, as well as valuation and strategic consulting.