LFM Capital Portfolio Company J&E Precision Tool Acquires Alloy Specialties and Beranek
NASHVILLE, TN, April 30, 2021 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today that portfolio company J&E Precision Tool (“J&E”) has completed two acquisitions: Alloy Specialties Inc. (“Alloy”) and Beranek Inc. (“Beranek”). Financial terms of the transactions were not disclosed.
J&E, based in Southampton, Mass., manufactures a variety of complex, precision-manufactured products primarily utilized for aerospace and defense applications, from the smallest intricate parts to large multi-component assemblies. J&E, an LFM portfolio company since 2019, is led by CEO Sean Holly, an industry veteran who was previously the VP of Manufacturing at Bell Flight.
Alloy, based in Manchester, Conn., is a manufacturer of engine components for defense and commercial air and ground applications. Alloy brings ultra-high-precision capabilities across a variety of materials, expertise in the engine and airframe parts market, and increased volume capabilities. The company has a reputation for quality and long-standing, strong relationships with a diverse set of customers including leading aerospace and defense OEMs.
Beranek, based in Torrance, Calif., is a leading supplier and manufacturer of highly technical, precision-machined components for the aerospace, defense, space exploration, and commercial industries. Beranek has significant expertise in missile defense systems and space exploration applications and brings a reputation for quality and reliability with its blue-chip customer base.
Steve Cook, Executive Managing Director at LFM, said, “We are excited to complete the Alloy and Beranek acquisitions, which extend J&E’s footprint and broaden its capabilities, product offerings, and customer base. With these acquisitions, J&E has become a leading nationwide manufacturer of precision machined components for the aerospace and defense sector. We look forward to working with management to leverage each company’s strengths to drive growth across the combined company.”
Sean Holly, CEO of J&E, commented, “With the addition of Alloy and Beranek to the J&E platform, we can provide our network of major aerospace and defense customers with a one-stop shop for their ultra-precision machining needs. Our expanded team provides unparalleled expertise in the manufacturing the most complex components to supporting delivery of mission systems, engine systems, weapon systems, space launch, and satellite markets.”
Bass, Berry & Sims PLC served as legal counsel and LBMC, PC provided transaction-related accounting services to J&E.
About LFM Capital
LFM Capital is a private equity firm based in Nashville, Tennessee. The LFM team is led by experienced and successful Fortune 50 global executive managers and private equity professionals who bring decades of management leadership, operating best practices, exceptional professional recruiting networks, and a successful track record in lower middle market investing. LFM targets lead or control investments in U.S.-based lower middle market manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values ranging from $15 million to $125 million. The firm’s mission is to partner with portfolio company management to develop and build world-class operations through a combination of manufacturing and operations excellence and targeted growth and expansion strategies. For additional information, please visit www.lfmcapital.com.
About J&E Precision Tool
Since 1979, J&E Precision Tool has served the CNC machining needs of the most demanding industries including: aerospace, defense, electro-optic, microwave, and more. An ISO9001 / AS9100 registered company, J&E leverages its state-of-the-art equipment to manufacture a variety of complex, precision-manufactured products, from the smallest intricate parts to large multi-component assemblies. J&E works closely with customers using an integrative "design-for-manufacturing" approach on every project to ensure they meet customers’ most challenging requirements and surpass expectations. For more information, please visit www.jeprecision.com.
About Alloy Specialties
For more than 30 years, Alloy Specialties has been an industry leading manufacturer of engine components for defense and commercial air and ground applications. Product offerings include compressor disks, turbine disks, spacers, seals, shrouds, brackets, rings, disk assemblies, bushings, sheet metal details, disks with broached slots, and assemblies.
For more information, please visit www.alloysp.com.
About Beranek
Founded in 1978, Beranek is a leading supplier and manufacturer of highly technical, precision-machined components for the commercial and military aviation, missile defense, and space exploration industries. For more information, please visit www.beranekinc.com.