Los Angeles-based Hancock Park Associates and Next Point Capital have announced the recent acquisition of Sheffield Manufacturing, a North American producer of precision-machined components for the aerospace industry. Salem Partners, a Los Angeles investment bank and wealth management firm, advised the company in the transaction. The financial terms of the deal were not disclosed.
Sheffield Manufacturing's dedicated and skilled staff produces and delivers high-quality parts for a variety of commercial and military aircraft for customers such as Boeing, Lockheed-Martin, and Northrop Grumman. Using CNC and conventional profiling equipment, sophisticated CAD programs, and concurrent engineering support, the company produces parts and complete assemblies from its three manufacturing California facilities (Sheffield - Sun Valley; Sheffield - Torrance; and Fortune Manufacturing, Chino). Materials include aluminum, stainless steel, titanium, magnesium, copper, phenolic, nylon, brass, and Inconel.
Gene Ruddy, CEO of Sheffield, says, “We are excited about the opportunity to partner with Hancock Park Associates and Next Point Capital, which have an in-depth understanding of our business and industry. We are very pleased to have long-term oriented and experienced strategic investors that will support our strategy of producing high quality products.”