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GenNx360 acquires Maine Machine Products

GenNx360 Capital Partners, a private equity firm focused on industrial business-to-business companies with USD75m to USD500m in revenues, has acquired Maine Machine Products, a manufacturer of precision components and assemblies for the defence, oil and gas, and semiconductor industries.

Terms of the transaction were not disclosed.

Maine Machine Products operates a temperature controlled, 65,000 square foot building which includes a hard wall Class 1000 Clean Room.

Services include concept development, precision machining, and vertical integration. The company is certified to both ISO 9001:2000 and AS9100 standards.

GenNx360 purchased 100 per cent of Maine Machine Products’ shares from founder Roland L. Sutton and his family, who owned and operated the company for more than a half century. Sutton has resigned as board chairman. President and chief executive David MacMahon and his management team will continue to oversee the company’s day-to-day operations.

“We are extremely fortunate to acquire a company of Maine Machine Products Company’s calibre along with its 54-year track record of manufacturing excellence,” says Lloyd Trotter (pictured), a managing partner and one of the founders of GenNx360. “Not only did the Sutton family build a world class company that leads its peers in terms of quality and technological advancement, but they have supported the company with a strong and capable associate team along with an exemplary management team. We value every associate’s commitment to Maine Machine Products Company and look forward to using our operational expertise, strategic insight and network to help them grow and expand the company.”

“After more than 54 years of stewardship, my family and I decided the time was right to look for a new owner for Maine Machine Products – one who would not only respect our traditions, but assure the longevity of the company beyond the current generation of owners,” adds Sutton. “We are delighted that GenNx360 is that exceptional owner and wish them every success in the future.”

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