Hicks, Riverside backed H-D makes fifth platform acquisition

H-D Advanced Manufacturing adds on to its aerospace business line with the deal

Pennsylvania-based H-D Advanced Manufacturing Company, has made its fifth platform acquisition with the purchase of Crown Precision Machining. California-based Crown provides high-precision machining services to manufacturers in commercial aerospace and defense.

Crown's products are principally used on Boeing's 737 platform, but can also be found on Boeing 777, 787 and 747 aircraft as well as on business and regional aircraft. Crown’s co-founders, President Mark Miller and CFO Lisa Miller, will remain with the business for an extended, multi-year transition period.

Other recent platform acquisitions for H-D include Overton Chicago Gear Corporation, a gearbox manufacturer; Innovative Mechanical Solutions a custom bearings manufacturer; Leading Edge Heat Treating Services, a provider of heat treating solutions, and Sungear, a provider of precision gears and assemblies for the aerospace industry.

H-D is backed by a consortium of private equity investors including the Riverside Company, Hicks Equity Partners and Weinburg Capital Group. Hicks Equity Partners is the private equity arm for Hicks Holdings LLC, a holding company for the Thomas O. Hicks family's assets and runs the buy and build strategy first launched by Hicks Muse Tate & Furst. Weinberg Capital Group is a Cleveland, Ohio based family office that specializes in acquiring middle-market companies.

The plan is to acquire develop manufacturers of mission-critical, precision engineered components. H-D is led by Chris DiSantis, CEO.

Williams Capital Advisors, LLC acted as exclusive advisor to Crown.