Mill Point Capital Completes Sale of KKSP Precision Machining

·3 min read

GLENDALE HEIGHTS, Ill., June 28, 2022--(BUSINESS WIRE)--Mill Point Capital LLC ("Mill Point Capital"), a private equity firm focused on control-oriented investments in the industrials, business services and IT services sectors, announced today a majority sale of KKSP Precision Machining LLC ("KKSP"), one of North America’s leading manufacturers of precision metal components, to Pine Grove Holdings LLC ("Pine Grove"), an executive-led operations and investment firm focused on companies with high engineering content. Mill Point will maintain a minority stake in the business going forward.

Since its 2017 acquisition by Mill Point Capital, KKSP has experienced tremendous success through the enhancement of technical capabilities, strategic M&A and rapid expansion into the Northeastern United States region and catalog components market.

"We are very proud of our successful partnership with Dave Dolan and the entire KKSP team, as well as the many achievements during our partnership," said Mark Paolano of Mill Point Capital. "Since our initial transaction in 2017, we successfully executed on our Value Creation Plan, creating an industry leader poised to thrive in its market. We are also thrilled to partner with Nelda J. Connors of Pine Grove Holdings and support the continued growth of KKSP."

"KKSP has an impressive legacy of world-class product quality and customer service across its five facilities in the U.S. and Mexico," said Nelda J. Connors, Founder and CEO of Pine Grove Holdings. "The growth potential of KKSP is exciting as we work alongside the KKSP leadership team and its employees to realize additional business potential and value for our customers."

"By partnering with Pine Grove, and through Mill Point’s continued involvement, this transaction demonstrates KKSP’s ability to attract and work alongside preeminent investment partners to expand capabilities and services for its customers and deliver value to its investors. We look forward to the next phase of KKSP’s evolution and working closely with Nelda J. Connors and Pine Grove," said Dave Dolan, President and CEO of KKSP Precision Machining.

About KKSP Precision Machining
Headquartered in Glendale Heights, IL, KKSP Precision Machining LLC is one of the largest manufacturers of machined metal components produced primarily on automatic screw machines. Founded in 1968, the company has evolved into a leading player in the precision turned components industry with facilities in Illinois, Wisconsin, Michigan, Mexico, and Connecticut. KKSP operates over 570 primary machines and produces over 350 million parts annually to exacting print specifications for a diverse customer base including HVAC, fire suppression, appliance, defense, automotive, heavy truck, plumbing, medical and marine industries. For more information, please visit www.kksp.com.

About Mill Point Capital
Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies in North America across the industrials, business services and IT services sectors in North America. Mill Point’s experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.

About Pine Grove Holdings
Pine Grove Holdings LLC is a privately held investment company focused on acquiring and operating middle-market businesses with a high engineering component. These investments are primarily focused in power generation, specialty logistics and transportation, SAAS and advanced materials. Pine Grove Holdings is based in Chicago, IL. For more information, please visit www.pinegroveholdings.com.

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Contacts

Jiaeh Kim, (212) 416-5800, info@millpoint.com