Precision Aerospace acquires Owens Machine and Tool

Precision Aerospace Holdings LLC, a leading manufacturer of precision machined aerospace and defense components, has acquired Owens Machine and Tool Company. Precision was formed through the partnership of CIC Partners and Juniper Capital Management.

Owens produces complex, multifaceted parts, tooling and prototypes utilizing multi-axis machine tools and best-in-class cutting tools. It was established in 1986 to develop and sell complex machine components, primarily to the aerospace and defense industries. Owens is in Lewisville, Texas and specializes in CNC machining of titanium and nickel alloys.

“We’re thrilled to add Owens to Precision’s growing platform,” says Pete Stegmaier, Precision’s CEO. “The Owens team has deep experience that expands our broad capabilities to provide world-class service to aerospace and defense industries. We expect to continue their exciting growth trajectory.”

The transaction marks Precision’s second acquisition in less than 10 months. In June 2023, Precision acquired Decatur Machine Services, Inc. located in Decatur, Texas. The new additions build on the success of the previous two acquisitions of Applegate EDM, LLC, and Icon Machine Co. in 2022. Precision now owns four companies in the Dallas-Fort Worth metroplex with a total of 110 employees. All businesses are AS9100 and ITAR certified.

“We’ve built an impressive platform in North Texas centered on operational excellence and a commitment to best-in-class customer performance marks,” says Bayard Friedman, Precision board chairman and managing director with CIC Partners. “These fundamental attributes will allow us to continue to scale the Precision platform and be a key supplier to a growing list of major defense programs.”

Precision will continue to aggressively target investment opportunities in North Texas and surrounding states.

“We’re extremely proud of the operating companies we have assembled under the Precision platform,” says Bryan Grabowsky, co-founder and managing partner at Juniper. “The enhanced capabilities and product offerings as well as the strong operational leadership we have added with Owens will be instrumental as we continue to build on opportunities to be a value-added supplier to leading defense and aerospace companies.”