Mill Point Capital Portfolio Company Acquires Prime Engineered Component, Inc.

Glendale Heights, IL – March 31, 2020 – KKSP Precision Machining, LLC (“KKSP”), a portfolio company of Mill Point Capital, announced today that it has acquired Prime Engineered Component, Inc. (“Prime” or the “Company”), a manufacturer of aluminum, brass and stainless steel custom metal components.

Prime, based in Watertown, CT, has more than a 50 year history of excellence in precision machined components serving a diverse set of customers and end markets including defense, medical, automotive, and aerospace. With its 85+ multi-spindle screw machines, CNC Swiss multi-axis lathes and CNC Vertical Milling Centers, the Prime Division will provide a significant expansion to capacity and unique capabilities that will add value to the KKSP platform.

Mark Izzo, Prime’s President commented “The Prime management team and our entire organization of highly-skilled employees are excited to become a new division of KKSP Precision Machining. Over the span of five decades, both companies have emerged as industry-leaders by taking care of employees, investing in capabilities, and improving for our customers. We share a common culture of analytical, data driven decision-making, a passion for world-class capabilities and quality, and are excited to continue to that legacy in Watertown, CT as part of KKSP.”

“We are extremely excited to join forces with the Prime organization and leverage the unique strengths of both organizations to broaden our product offerings to KKSP and Prime customers alike. Prime has built a very stable and capable business over three generations of family ownership and we are honored by the trust they have placed in KKSP to protect and continue to build upon those resources, and in particular, to have Mark Izzo as part of the KKSP Leadership Team going forward,” noted Dave Dolan, President of KKSP.