CHICAGO (February 7, 2018) – Onward Capital, a private equity firm based in Chicago, and St. Louis -based private equity firm Thompson Street Capital Partners (TSCP) announced today that they have partnered to acquire Wright City, Missouri-based Tech Manufacturing, LLC (www.techmanufacturing.com) as an add-on to their platform company Domaille Engineering. Tech Manufacturing is a manufacturer of complex 5-axis structural aerospace parts. Terms of the transaction were not disclosed.
Recognized as a “Top Shop” by Modern Machine Shop Magazine in September, 2016, Tech Manufacturing has special expertise in complex contoured parts and monolithic components that require 5-axis milling, whether made of aluminum, steel, titanium, or other materials. The Company specializes in CNC precision machining of structural aerospace parts for commercial, military and business airframes. Tech Manufacturing maintains AS9100 Rev C and ISO 9001:2008 certifications, is Fracture Critical/ Traceable Part compliant, ITAR Registered and DPD (Digital Product Definition) compliant.
Tim Kanne, President of Domaille Engineering, said, “We are thrilled to have Tech Manufacturing join the Domaille family. The resulting combination of talent and resources allows us to deliver a broader solution to our customers, which provides for excellent growth opportunity.”
“Onward Capital is extremely pleased to add Tech Manufacturing to the Domaille portfolio. With this combination we will continue to seek complementary acquisition opportunities for the combined platform,” said Marcus George, Partner at Onward Capital.
Jim Cooper, TSCP Managing Partner, said, “TSCP is extremely impressed with Tech Manufacturing, not just with their unique capabilities and skillsets, but with their management and staff. The Company’s reputation for excellence is known industry wide.” Added Mr. Cooper, “Tech is a strong addition to the Domaille family with a huge potential for growth, and TSCP is proud to welcome them.”
About Domaille Engineering
Domaille Engineering, LLC (www.domailleengineering.com) is a worldwide provider of innovative engineering solutions and precision manufacturing services to high-tech industries and a leading OEM of optical fiber polishing equipment. Domaille Engineering is a three-time winner of the prestigious U.S. Chamber of Commerce blue ribbon DREAM BIG small business award. This award recognizes the top 100 U.S. small businesses for demonstrating exceptional business practices in several areas including strategic planning, employee development, community involvement and superior customer service.
About Onward Capital LLC
Onward Capital is a Chicago-based private equity firm focused on investing in and growing lower middle-market industrial businesses. The Onward Partners have completed over 120 private equity transactions and invested $1 billion dollars of capital in the sector. Onward targets manufacturing and value-added distribution companies, typically with revenues between $15 million and $100 million. For more information on Onward Capital, please visit www.onwardcapllc.com.
About Thompson Street Capital Partners
Thompson Street Capital Partners (www.tscp.com) is a St. Louis-based private equity firm focused on investing in founder-led middle market businesses in the business services, healthcare services and engineered products sectors. Founded in 2000, the firm has managed more than $1.5 billion in equity and is currently investing out of its $640 million TSCP Fund IV. TSCP partners with management teams to increase value by accelerating growth, both organically and via acquisitions.