BOSTON, October 4, 2011 - C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that Canadian private equity firm TerraNova Partners LP has sold KK Precision, Inc. to River Associates Investments. C.W. Downer & Co. acted as sole financial advisor to TerraNova Partners and its subsidiary, Precinda Corp., on the divestiture. The deal closed on September 1, 2011 and the transaction value was undisclosed.
Based in Toronto, Ontario, KK Precision specializes in the design, manufacture and supply of complex, high precision components for OEM customers in the land-based and aerospace gas turbine industries. KK Precision’s proprietary manufacturing & engineering capabilities combined with consistent performance has enabled it to establish longstanding, collaborative relationships with the gas turbine industry’s leading OEMs, including Rolls-Royce, Siemens, Pratt & Whitney, GE and Dresser Rand.
C.W. Downer ran a global divestiture process which included financial and strategic buyers from North America, Europe and Asia. “Our firm’s deep turbine industry experience helped in the positioning of this unique supplier to potential acquirers and our extensive network of contacts enabled us to quickly and confidentially introduce KK Precision to both strategic and private equity acquirers around the world,” said Wade Aust, Managing Director & Partner with C.W. Downer & Co.
“Although we brought a large contingent of both domestic and international strategic buyers to the table, KK Precision found a true partner in River Associates Investments,” said Christopher Donegan, Vice President with C.W. Downer. “River Associates will allow KK Precision to expand internationally and fulfill the company’s strategic objectives.
The C.W. Downer transaction team advising on the sale of KK Precision included Mr. Aust (Managing Director & Partner), Mr. Donegan (Vice President), David Waldstein (Associate), and Chris DiPietro (Analyst) with the firm’s Boston office.
About C.W. Downer & Co.
C.W. Downer & Co. is an independent, global investment bank offering middle-market clients a high level of personal attention coupled with 35 years of international execution experience. We provide insight, not just information. We generate value, not just transactions. With seven fully integrated offices on four continents, we consistently identify the most appropriate strategic buyer and uncover “hidden” acquisition targets. C.W. Downer & Co. delivers the reach of a bulge-bracket investment bank with the senior level focus of a boutique. For more information, visit http://www.cwdowner.com.
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