Mid-America Precision Products, LLC, who specializes in the custom machining of precision parts, sheet metal, finishing and total contract assembly sold the company to TGP Investments II LLC. MAPP serves the aerospace, agricultural, government, telecommunication, and medical fields among others.
TGP Investments, LLC. is a Kansas City-based merchant banking firm led by a strong investment team with extensive experience in middle-market private equity investing. Upon the acquisition, TGP named Luis Coreano as MAPP's new CEO.
"We developed a close relationship with Luis over the past several years and more recently committed to finding an acquisition target in the aerospace and defense sector together," TGP Investments Managing Director Eric Graham said in a release. "Luis has an impressive background and a demonstrated track record of success.
"TGP feels quite fortunate to partner with someone of Luis caliber and character. We believe that MAPP, with the depth of its current customer relationships and beginning-to-end range of manufacturing capabilities, is an ideal platform to build upon in partnership with Luis and the team."