Deal Announcement January 2015
Austin, Texas, January, 2015—Texas Contract Manufacturing Group, Inc. (“TCMG”), a portfolio company of Camwood Capital Group (“Camwood”), is pleased to announce it has simultaneously acquired the business interests of both Owens Precision, Inc. and Lone Star Manufacturing, Inc. No financial terms were disclosed.
Founded in 2005, LSM is a high-quality machine shop with mechanical assembly capabilities located in Brenham, TX, sixty miles northwest of Houston and approximately fifty miles East of Austin. The company has a unique niche in the machining of sub-sea connectors for the Oil and Gas industry.
Founded in 1978, and headquartered in Nevada’s Capitol, Carson City, Owens Precision is also a contract manufacturer that focuses on complex, precision-machined metal components—with the majority of the Company’s revenue derived from machining services primarily for the Aerospace, Defense, Medical, and Process Control sectors.
The acquisition of these two companies marks the beginning of Camwood’s vision to build a platform holding company (TCMG) comprised of industry leading manufacturers specializing in precision machining and assembly.
Based in Austin, Texas, TCMG is a privately-held group of leading precision manufacturing companies throughout the United States. Through its subsidiaries, TCMG maintains a collaborative focus on turnkey manufacturing, fabrication, assembly, and repair services for high-value, high-complexity, precision-machined, specialty components. The TCMG family currently has a strategic niche in the aerospace, defense, medical, process control, space and satellite, semi-conductor and transportation sectors. The group continues to organically grow the existing companies, as well as expansion through focused acquisitions. For further information about TCMG, please visit: www.tcmgco.com
Camwood is a buyout firm headquartered in Austin, Texas that focuses on the acquisition and management of high-quality, lower middle-market industrial companies. As a team of investor-operators, the firm primarily specializes in creating and structuring flexible transaction options and exit opportunities for privately-held companies that are founder or family-owned with revenues between $5mm and $50mm. For more information about Camwood, please visit: www.camwoodcapitalgroup.com