Dallas-based private investment firms CIC Partners (CIC) and Juniper Capital Management (Juniper) announced today that they have partnered to form a new platform, Precision Aerospace Holdings, according to a news release.
Dallas-based Applegate EDM, LLC and Irving-based Icon Machine Co. were acquired and united under the platform.
“We expect these initial acquisitions to be the first of many as Precision Aerospace develops its robust defense and aerospace platform,” Bayard Friedman, managing director with CIC Partners, said in the release. “We look forward to leveraging the capabilities of these two complex manufacturing businesses to develop the highly sophisticated parts required by leading space, aerospace and defense contractors.”
The Precision Aerospace platform is led by CEO Pete Stegmaier. Before joining the platform as CEO, Stegmaier worked at Ireland-based Eaton Aerospace.
Read the full story at Dallas Business Journal.