Mirus Capital Advisors advises Bradford Machine on its acquisition by Prince Industries
March 26, 2024 05:00 AM Eastern Daylight Time
CHICAGO–(BUSINESS WIRE)–Prince Industries (“Prince”), a leading precision machining and sheet metal fabrication company and HC Private Investments (“HCPI”) portfolio company, announced it successfully acquired Bradford Machine (“Bradford”) in a transaction that will increase its medical device, aerospace and defense capabilities. Terms of the transaction were not disclosed.
Based in Brattleboro, VT, Bradford operates a fully automated, tight tolerance precision machining facility. “The acquisition of Bradford Machine significantly enhances our medical device capabilities. With Bradford’s invaluable long-term customer relationships and advanced machining capabilities, we are excited to partner with their talented management team and offer their customers increased manufacturing competencies and a national manufacturing footprint,” said Mark Miller, Chief Executive Officer of Prince.
Since HCPI’s partnership with Prince in May 2022, Prince has acquired Precision Shapes and Vulcan Machine in addition to Bradford. HCPI continues to prioritize expanding the Prince business through organic initiatives and strategic complementary add-on acquisitions in medical, aerospace and defense end-markets.
Winston & Strawn LLP served as legal counsel to Prince Industries and HCPI. Mirus Capital Advisors served as financial advisor to Bradford. Wintrust Financial Corporation, Signature Bank and Midwest Mezzanine Funds provided debt financing for the transaction.
ABOUT PRINCE INDUSTRIES
Prince Industries is a precision machining and sheet metal fabrication company focused on the industrial, aerospace, and medical end-markets. Prince provides its customers with a full suite of services from engineering and product design to material selection, process mapping, welding, powder coating and assembly. Originally acquired by HCPI in 2022 and still led by its founding family member, Mark Miller, Prince has over 400 employees across six manufacturing facilities globally. For more information, please visit https://www.princeind.com.
ABOUT HC PRIVATE INVESTMENTS
HC Private Investments is a private equity investment firm focused on making investments in lower middle-market niche manufacturing businesses. HCPI invests on behalf of the family office of Joe Niciforo. The firm will also bring select family offices and individuals to participate in its transactions providing HCPI with a flexible and patient capital base. With a focus of being the first institutional investor in a business, HCPI seeks to partner with business owners, executives, and management teams to identify opportunities to remove impediments to growth enabling companies to maximize their full value potential. For more information, please visit www.hcprivateinvest.com.
Contacts
John Kelly
312-789-8492