Maker of High Precision Surface Finishing Machines
MOUNT PROSPECT, Ill.–(BUSINESS WIRE)–Bison Capital Partners VI, LP (“Bison Capital”), Angeles Equity Partners, LLC (“Angeles”), and Brian Nelson have acquired Lapmaster Parent, LLC (“Precision Surfacing Solutions” (or “PSS”), a leading producer of high precision equipment and accessories for slicing, lapping, grinding, and polishing a engineered materials including metals, silicon, glass, ceramics, and composites. Bison Capital and Angeles will partner with Brian Nelson, who founded PSS and will resume his role as group CEO, to drive the next stage of the company’s global growth.
Under PSS, the business will operate two autonomous businesses units both under separate leadership: (i) Matthias Mantel will be the CEO of FFG (“Flat Finishing Group”) which operates under the Lapmaster and Peter Wolters brands manufacturing the AC line of grinding and polishing machines, which are capable of delivering finishes with leading flatness for silicon and silicon carbide wafers used in semiconductors, photovoltaic cells, and electric vehicles and (ii) Larry Schwoeri will be the CEO of SPG (“Surface Profile Group”) which operates under the Kehren, ELB, Micron, Aba, REFORM, ISOG, Micron, Barnes, and Bates brands manufacturing high precision equipment for precision finishes on metal surfaces and profiles for the aerospace, defense, automotive, wind energy and general industry sectors.
In addition to Bison Capital and Angeles, the investor group supporting the Company includes some of the largest investors in the United States including Churchill Asset Management (a Nuveen affiliate), General Electric Pension Trust, and AIG. Given the global tailwinds in PSS’s core sectors, the Company will be well capitalized with no debt post-closing in order to allow PSS to pursue substantial growth opportunities.
Michelle Barry, Chameleon Collective
+1 (603) 809-2748