Aerospace & Defense, Diversified Industrials
Meridian Advises Shields Manufacturing on its Acquisition By Precinmac Precision Machining
Published January 11, 2021
FOR IMMEDIATE RELEASE // SEATTLE, WASHINGTON
Meridian Capital LLC (“Meridian”), a Seattle-based middle market corporate finance and M&A advisory firm is pleased to announce the successful acquisition of one of its clients, Shields Manufacturing, Inc. (“Shields” or the “Company”) by Precinmac Precision Machining (“Precinmac”), a portfolio company of Pine Island Capital Partners, LLC, Bain Capital Credit, LP, and Compass Partners Capital.
Founded in 1991 and located in Tualatin, Oregon, Shields serves the semiconductor, life sciences and aerospace markets providing precision CNC machined components and complex assemblies. The Company specializes in complex mechanical and optical assemblies with extensive metal and plastic machining capabilities.
Bill and Ruthie Shields, co-owners of Shields, shared, “Meridian acted as a committed and thoughtful advisor throughout the entire transaction, helping Shields and its shareholders reach an outstanding outcome in a challenging environment. We’re excited for Shields to join the Precinmac family with a strong alignment on culture and capabilities that the combination brings to Shields’ customers.”
Eric Wisnefsky CEO of Precinmac said, “We are excited to grow our presence in the West Coast by adding Shields into our highly diversified portfolio. This acquisition is part of a multi-faceted strategy to expand our business through acquisition in all sectors. We are well-positioned to continue our growth trajectory as we strengthen our supply chain and continuously deliver quality parts on-time to our customers in critical industries.”
Brian Murphy, President and Managing Director at Meridian stated, “It was an honor to work with Bill, Ruthie, and the entire Shields team. Over three decades, Shields established itself as one of the leading precision component suppliers to the semiconductor industry. The combination with Precinmac provides Shields with additional capabilities and resources to continue expanding its offerings to current customers and into new markets.”
This transaction represents continued momentum for Meridian’s Diversified Industrials Practice. Other recent transactions include Manor Hardware’s acquisition by SouthernCarlson, a division of Kyocera, Harbor Wholesale Foods acquisition of a division of Food Services of America, Berg’s acquisition by HDT Global, and MetalFx’s acquisition by Montage Partners.
For more information about this transaction, please contact one of the team members below:
About Meridian Capital
Founded in 1995, Meridian Capital is a Seattle-based M&A advisory firm, advising business owners on complex corporate finance, M&A and strategic challenges for over 25 years. The firm differentiates itself through its deep industry insights, highly customized service approach, and end-to-end commitment to execution. With a unique combination of professionals with financial, transactional, and operational expertise, Meridian offers the depth and breadth of experience required to serve leading middle market companies in multiple sectors including aerospace & defense, business services, consumer, diversified industrials, food & beverage, technology, and telecommunications.