Nichols Portland, Inc, headquartered in Portland, Maine, USA, has acquired the assets of Alpha Precision Group, LLC (APG), St Mary’s, Pennsylvania, USA. Nichols designs and manufactures Powder Metallurgy components for use in fluid transfer devices and other automotive and industrial applications. It is also a portfolio company of Altus Capital Partners II, L.P., an investment firm focused on middle-market industrial companies. The financial terms of the transaction were not disclosed.
APG is a metal-forming technology company providing conventional Powder Metallurgy, high-temperature stainless steel PM, Metal Injection Moulding and Additive Manufacturing components and assemblies, as well as high precision valve assemblies to a global customer base. The company is comprised of five manufacturing plants located in Pennsylvania and Michigan, with over 400 team members.
“The APG acquisition is an excellent complement to our existing value proposition that focuses on being a solution provider to our customers,” stated Thomas Houck, president and CEO of Nichols. “The APG network will bring additional and unique capabilities to service an ever-changing marketplace. The acquisition of APG will allow us to further accelerate the depth and breadth of our capabilities and ever-evolving needs of our customers. We feel that our approach to long-term customer relations and growth is highly aligned with the value and mission of Nichols.”
Heidi Goldstein, Partner at Altus, commented, “The combination of Nichols’ industry experienced management team, APG’s management team, skilled workforce, and technical expertise, make us very excited about the growth possibilities of these businesses.”