Recent Acquisition by MidOcean Partners

businessAt the end of last month, MidOcean Partners completed the sale of Noranco Inc. to Precision Castparts Corporation. MidOcean Partners is “a private investment firm that specializes in middle market investments in the US.” Noranco is “an integrated manufacturer and solutions-provider to the international commercial and military aerospace sectors.”

This acquisition by MidOcean dates back two years. In April of 2013, the firm – in partnership with co-investors – combined its resources with the firm’s management team in an attempt to bolster revenue growth and engineer two “accretive acquisitions.” According to Ted Virtue, CEO of MidOcean Partners:

“Our successful investment in Noranco is a perfect example of MidOcean’s strategy to back strong management teams who leverage our operating resources to drive growth and operating efficiency. Noranco has been a terrific platform to consolidate the highly fragmented aerospace sector and this is a great outcome for our investors.”