HC Private Investments partners with founding family of Prince Industries, a leading precision machining and sheet metal fabrication company, to accelerate growth

HC Private Investments partners with founding family of Prince Industries, a leading precision machining and sheet metal fabrication company, to accelerate growth

CHICAGO–(BUSINESS WIRE) – HC Private Investments (HCPI), a Chicago-based family office private equity firm, and Isleworth Capital Partners (ICP) today announced a strategic partnership with Prince Industries LLC (“Prince” or the “Company”). ), a leading precision machining and sheet metal manufacturing company.

Proceeds from the investment will be used to accelerate Prince’s growth plans and expand operational capabilities. As part of the transaction, experienced industry executives Frank Feraco and Ryan Sullivan joined the company’s board of directors. Mark Miller, whose father founded Prince in 1959, will continue as CEO and board member and retain a significant investment in the company. Financial terms of the deal were not disclosed.

Headquartered in Carol Stream, IL, Prince designs and manufactures precision machined and sheet metal components and assemblies. The company serves a wide range of end markets including telecommunications, hydraulics, medical/dental, computer peripherals and electronics. The company has approximately 260 employees and operates three facilities located in Carol Stream and Batavia, IL and Shanghai, China.

HCPI Managing Partners John P. Kelly and Matthew J. Moran said:Over the past six decades, Prince Industries has distinguished itself by its unwavering focus on quality, innovation and service, supporting a number of great customers. We are excited to partner with Mark Miller and his team to support Prince’s continued growth and market expansion. We have the utmost respect for the business and the team that Mark and his family have built and fully intend to preserve the company’s deep commitment to the Carol Stream community. We have worked closely with Frank Feraco and Ryan Sullivan for many years and believe they will provide significant input and industry insight to support Prince’s continued success.

Mr Miller added:We are pleased to welcome Mr. Feraco, Mr. Sullivan and HCPI as capital and strategic partners as we embark on the next phase of our evolution. Importantly, in HCPI we found a truly aligned partner who quickly understood our business and supports our approach to tailoring our services to each client’s specific needs. With additional executive resources and a strong, long-term financial partner, Prince is well positioned to maximize our future growth potential.

Winston & Strawn LLP acted as legal advisors to HCPI. Wintrust Financial Corporation and Midwest Mezzanine Funds provided debt financing for the transaction. The Chicago corporation acted as Prince’s financial advisors.

ABOUT HC PRIVATE INVESTMENTS

HC Private Investments (HCPI) is a private equity investment firm focused on investments between USD 10 million and USD 40 million. USD to lower middle market manufacturing companies in the consumer and industrial markets. HCPI invests on behalf of the family office in HC Technologies, LLC, a Chicago-based principal trading firm led by Joe Niciforo with offices in New York, London and Singapore. The firm will also include select family offices and individuals to participate in its transactions, providing HCPI with a flexible and patient capital base. As the premier institutional investor in business, HCPI seeks to partner with business owners, executives and management teams to identify opportunities to remove barriers to growth that allow businesses to maximize their value potential. For more information, visit www.hcprivateinvest.com.

ABOUT PRINCE INDUSTRIES

Prince Industries is a precision machining and sheet metal fabrication company focused on the industrial and medical end markets. Prince provides its customers with a full service package from engineering and product design to material selection, process mapping, welding, powder coating and assembly. For more information, visit https://www.princeind.com/.

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