SEATTLE (March 9, 2015) – Blue Point Capital Partners, in conjunction with its portfolio company, Selmet, Inc., announced today the acquisition of Western Metrology, Inc., a manufacturer of precision components for the aerospace industry.
“Western has exceptional knowledge and ability in machining and measuring complex castings, such as those manufactured by Selmet,” said Mark Morris, a partner with Blue Point. “Blue Point and Selmet have continued the acquisition growth initiative we started in 2013, and the Western acquisition enhances Selmet’s expertise and provides additional capacity for machining titanium castings.”
Selmet (www.selmetinc.com) is a leading titanium castings supplier to the global aerospace and defense industry. Headquartered in Albany, OR, the Company manufactures complex titanium parts, including engine, airframe and other aircraft and military components. The Western transaction represents the second add-on acquisition for Selmet, which was acquired by Blue Point as a platform investment in November 2011. Selmet completed its first add-on acquisition in July 2014 with the addition of Onamac Industries.
Based in Wilsonville, OR, Western manufactures precision aerospace, commercial and military components, as well as parts for major upcoming aircraft.
Rick Kenyon, chief executive officer of Selmet, said, “With expertise in machining, CMM programming, development and inspection of titanium castings, Western has been one of Selmet’s strongest technical machining partners and is an ideal tuck-in for the platform. The Western acquisition expands Selmet’s machining capabilities and immediately strengthens our inspection capabilities and talent.”
Blue Point Capital Partners is a private equity firm managing over $800 million in committed capital. Leveraging offices in Charlotte, Cleveland, Seattle and Shanghai, Blue Point’s entrenched regional presence affords it the opportunity to establish relationships on a local and regional basis with entrepreneurs and their trusted advisors, while simultaneously providing the resources of a large, international firm. The Blue Point group has a 24-year track record of partnering with companies in the lower middle market where it can bring about accelerated growth and transformative change in partnership with its companies, their management teams and Blue Point’s network of operating resources. Blue Point is one of only a few middle-market private equity firms with a presence in the economies of both the United States and China, and the firm’s experience with cross-border management and value drivers provides a distinct advantage for its portfolio businesses. Blue Point invests in manufacturing, distribution and service businesses generating $20 million to $200 million in revenue.
For more information, contact:
BLUE POINT CAPITAL PARTNERS
Mark Morris
Partner
Blue Point Capital Partners, LLC
1201 Third Avenue, Suite 3090
Seattle, WA 98101
(206) 332-9202
SELMET
Rick Kenyon
Chief Executive Officer
Selmet, Inc.
33992 SE Seven Mile Lane
Albany, OR 97322
(541) 926-7731