Milestone sells Precision Partners to AK Steel for $360 mln
U.S. private equity firm Milestone Partners has sold Precision Partners Holding Co, a Canadian automotive tooling and hot-and-cold stamped solutions provider, to AK Steel Corp (NYSE: AKS). The purchase price was US$360 million. Founded in 1955, Windsor, Ontario-based Precision Partners serves global original equipment manufacturers and Tier 1 clients. It was acquired by Milestone via a carve-out deal in 2013. During Milestone’s ownership period, the company's revenue and EBITDA increased at compound annual growth rates of 24 percent and 32 percent, respectively, Milestone said. Based in West Chester, Ohio, AK Steel is a producer of flat-rolled steel.
11 August 2017•3 mins read
