Aerospace, Defense & Space, Manufacturing & Distribution
CLA Meridian Capital advises Shields Manufacturing on its acquisition by Precinmac Precision Machining
Published January 11, 2021
FOR IMMEDIATE RELEASE // SEATTLE, WASHINGTON
CLA Meridian Capital (“CLA Meridian Capital”), 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, “CLA Meridian Capital 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 CLA Meridian Capital 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 CLA Meridian Capital’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, please contact:
Managing Principal of Investment Banking
About CLA Meridian Capital
CLA Meridian Capital is the investment banking division of CliftonLarsonAllen (CLA) Wealth Advisors, LLC, an SEC registered investment advisor and broker dealer, member FINRA/SIPC. With 30+ years of middle-market M&A and financial advisory experience, $22 billion in total transaction value, and deep industry knowledge across the Consumer, Industrials, and Technology sectors, CLA Meridian Capital helps our clients preserve the value they’ve built and the legacies they leave behind.
