First acquisition for Nichols Portland since being acquired by Altus
PORTLAND, Maine–(BUSINESS WIRE)–#automotive—Nichols Portland, Inc. (“Nichols” or the “Company”), a leading provider of components (Powder Metallurgy & Steel) and niche assemblies utilized in various applications including fluid transfer, today announced it has acquired assets of Alpha Precision Group, LLC (“APG”). Nichols is a portfolio company of Altus Capital Partners, an investment firm focused on middle market industrial companies headquartered in the U.S. Financial terms of the transaction were not disclosed.
APG is a diversified metal-forming technology company providing conventional powder metal, high temperature stainless steel powdered metal, metal injection molding, and additive manufacturing (3D metal printing) components and assemblies, as well as high precision valve assemblies to a global customer base. Headquartered in St. Marys, Pennsylvania, APG is comprised of five manufacturing plants located in Pennsylvania and Michigan. With over 400 team members working together under a common APG operating system, the company continues to leverage unparalleled technical expertise and cutting-edge technologies to provide custom solutions to customers.
Thomas Houck, President and CEO of Nichols, stated, “The APG acquisition is an excellent complement to our existing value proposition that focuses on being a solution provider to our customers. The APG network will bring additional and unique capabilities to service an ever-changing marketplace. The acquisition of APG will allow us to further accelerate the depth and breadth of our capabilities and ever-evolving needs of our customers. We feel that our approach to long-term customer relations and growth is highly aligned with the value and mission of Nichols.”
Heidi Goldstein, Partner at Altus, commented, “The combination of Nichols’ industry experienced management team and APG’s management team, skilled workforce, and technical expertise, make us very excited about the growth possibilities of these businesses.”
About Nichols Portland, Inc.
Nichols is a one stop shop for powdered metal components and a CNC solution provider for automotive, off highway and industrial applications, ranging up to 750 tons. Nichols also provides systems engineering to its customers and a complete fluid power or fluid transfer package, Nichols is the world’s first manufacturer of gerotors and gerotor pumps. Nichols has more than 85 years of continuous experience in the manufacturing, design, application, testing and validation of these products.
About Altus Capital Partners
Altus Capital Partners is a private equity firm that makes control investments in middle market manufacturing businesses that employ technology and automation. We believe that our exclusive focus on manufacturing provides us with a unique understanding of the opportunities and challenges faced by companies in the sector. We utilize a patient, thoughtful investment approach and partner with the management teams of our operating companies to achieve growth. For more information, please visit www.altuscapitalpartners.com.
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