Juniper and CIC, two Dallas-based private investment firms, announced the transaction on Aug. 19, noting that Precision Aerospace has acquired two operating companies – Applegate EDM, Inc. and Icon Machine Co. Inc.
CIC and Juniper served as co-investment partners, providing the equity to complete the recapitalization of Applegate and Icon, and collaborated closely to form a board of directors to further support the growth strategies of Precision Aerospace, according to the announcement.
Precision Aerospace represents the ninth portfolio acquisition for Juniper under four distinct investment platforms.
Haynes Boone Mergers and Acquisitions Associates Brent Beckert, Rachael Williams and Eli Brook served as corporate counsel for Juniper, with assistance from Partners Raquel Alvarenga (Labor & Employment), Robert Bruner (Investment Management), Brad Holdbrook (Real Estate), Scott Thompson (Benefits), Mary Mendoza (Environmental) and Don Shiman (Tax), and Associates Matt Stewart and Mark Esserman (Investment Management) and Mary Claire Cranford (Real Estate).
The transaction was recently profiled in the Dallas Business Journal.
Haynes and Boone, LLP is an international corporate law firm with offices in Texas, New York, California, Charlotte, Chicago, Denver, Washington, D.C., London, Mexico City and Shanghai, providing a full spectrum of legal services in energy, technology, financial services and private equity. With 600 lawyers, Haynes Boone is ranked among the largest U.S.-based firms by The National Law Journal, The American Lawyer and The Lawyer. It was recognized in the BTI Consulting Group’s 2022 “A-Team” report, which identifies the law firms that in-house counsel commend for providing superior client service.