Acquisition of Ring Precision Components, New Vision Industries & Dieco to form The Producto Group
Culper Capital Partners, a private investment firm that invests both debt and equity in middle market companies that seek true partnership solutions, announced today the formation of its first control platform, The Producto Group (“Producto” or the “Company”), which is the result of the acquisition of Ring Precision Components (“Ring Precision”), New Vision Industries (“New Vision”) & Dieco. Ring Precision and Dieco were sold as part of a corporate carve out from The PMT Group. New Vision was acquired from its majority shareholder.
The Producto Group, through Ring Precision and New Vision, serves as a solution driven, contract manufacturer and provider of precision tooling and components for a wide variety of industries, including the medical, semiconductor, aerospace, and defense markets. Producto’s cutting edge manufacturing and quality control equipment uniquely positions the Company to provide solutions for its customers most demanding applications. The Company’s distribution arm, Dieco, provides custom springs, die springs, accessories, die sets and other components.
“We are excited to complete the acquisition of three great businesses to form the Producto Group,” said Adam Cook, Managing Partner and Chief Investment Officer of Culper. “These acquisitions should be the first of many to come for both Culper and Producto.” Cook, who will serve as Non-Executive Chairman of Producto, adds, “Producto is well positioned to satisfy its customers increased demand caused by the global supply chain crisis. We want our customers to rely on Producto as a value-added solutions provider where its products are bought and not sold, where partnership and value creation intersect in everything we do.”
“The breadth of the technological capabilities of this platform are extraordinary. Our unique offering aligns the interests of the Company, its employees, and its customers. Quality, service, and on-time delivery will always be our priority,” said Michael Copt, Chief Executive Officer of Producto and Seller of New Vision. Copt, who will maintain an equity position in the Company, adds, “Producto has a well-rounded offering of high-end component manufacturing coupled with precision tooling for applications ranging from injection molding tooling for medical catheters to components for unmanned aerial vehicles.”
“We are excited to see The Producto Group thrive. The combined entity will enable continued growth to better serve its customers and all stakeholders through expanded capabilities and offerings. Adam’s former experience as owner, Chairman & CEO of Glebar Company, should serve the Company and its customers well,” said Newman Marsilius, CEO of The PMT Group.
Winston & Strawn served as legal advisor to Culper Capital Partners. Capital Southwest Corporation and CIBC provided financing to the buyer as part of this transaction. Duff & Phelps Securities and Withers Bergman represented The PMT Group.
