Mill Point Capital Completes Sale of KKSP Precision Machining

GLENDALE HEIGHTS, Ill.–(BUSINESS WIRE)–Mill Point Capital LLC (“Mill Point Capital”), a private equity firm specializing in control-oriented investments in the industrials, business services and IT services sectors, announced today today the majority sale of KKSP Precision Machining LLC (“KKSP”), a leading North American manufacturer of precision metal components, to Pine Grove Holdings LLC (“Pine Grove”), an operating and executive-led investment focused on engineering-intensive businesses. Mill Point will retain a minority stake in the business going forward.

Since its acquisition in 2017 by Mill Point Capital, KKSP has achieved tremendous success through enhanced technical capabilities, strategic mergers and acquisitions, and rapid expansion in the Northeast region of the United States and the catalog components market.

“We are very proud of our successful partnership with Dave Dolan and the entire KKSP team, and the many accomplishments during our partnership,” said Mark Paolano of Mill Point Capital. “Since our initial transaction in 2017, we have successfully executed our value creation plan, creating an industry leader poised to thrive in its market. We are also delighted to partner with Nelda J. Connors of Pine Grove Holdings and to support the continued growth of KKSP.

“KKSP has an impressive heritage of product quality and world-class customer service across its five facilities in the United States and Mexico,” said Nelda J. Connors, founder and CEO of Pine Grove Holdings. “The growth potential for KKSP is exciting as we work alongside KKSP’s management team and its employees to realize additional business potential and value for our customers.”

“By partnering with Pine Grove and with the continued involvement of Mill Point, this transaction demonstrates KKSP’s ability to attract and work alongside leading investment partners to extend capabilities and services to its customers and bring value to its investors. We look forward to the next phase of KKSP’s evolution and are working closely with Nelda J. Connors and Pine Grove,” said Dave Dolan, President and CEO of KKSP Precision Machining.

About KKSP Precision Machining

Based in Glendale Heights, IL, KKSP Precision Machining LLC is one of the largest manufacturers of machined metal components produced primarily on automatic screw machines. Founded in 1968, the company has become a leading player in the precision turned component industry with facilities in Illinois, Wisconsin, Michigan, Mexico and Connecticut. KKSP operates over 570 core machines and produces over 350 million parts per year to exacting print specifications for a diverse customer base, including HVAC, fire suppression, appliance, defense, manufacturing, and manufacturing industries. automotive, heavy-duty, plumbing, medical and marine. For more information, visit www.kksp.com.

About Mill Point Capital

Mill Point Capital LLC is a private equity firm focused on overseeing investments in North American lower-middle market companies in the North American industrials, business services and IT services sectors. Mill Point’s experienced team of investors and executive partners seek to enhance the value of portfolio companies through the disciplined implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.

About Pine Grove Holdings

Pine Grove Holdings LLC is a private investment firm focused on acquiring and operating middle market businesses with a strong engineering component. These investments are mainly focused on power generation, specialized logistics and transport, SAAS and advanced materials. Pine Grove Holdings is based in Chicago, Illinois. For more information, please visit www.pinegroveholdings.com.

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