SOUTHLAKE, Texas and WESTFIELD, Massachusetts – January 24, 2014 – An affiliate of Insight Equity Holdings LLC (“Insight Equity”), the Southlake, Texas headquartered private equity firm, is pleased to announce its acquisition of Midstate Berkshire from Precision Holding LLC, a holding company owned by affiliates of Cerberus and SAC Capital. Midstate Berkshire is a recognized leader in precision machining, fabrication and assembly for the aerospace, defense, power generation, and oil & gas industries. The company features over 200,000 square feet of manufacturing space with the capacity to produce both large and small scale components and has the ability to handle volumes ranging from prototyping to full-scale production.
“We are very pleased to be acquired by Insight Equity”, stated Duane Pekar, President of Midstate Berkshire. “We look forward to working with the Insight team as we implement our strategy to grow in our key end markets.”
“Midstate Berkshire is a key supplier of critical parts to companies across several attractive end-markets. We are excited to work with the management team to continue to expand the company’s capabilities and product offerings”, remarked James Jackson, a Senior Vice President at Insight Equity.
Victor Vescovo, COO & Managing Partner at Insight Equity, noted, “Midstate Berkshire has differentiated itself through its ability to deliver complexity, quality and value to its customers. We are looking forward to partnering with Duane and the rest of the management team to provide further resources and accelerate the company’s trajectory.”
About Midstate Berkshire
Midstate Berkshire is a leader in precision contract machining, fabrication and assembly services for the aerospace, defense, power generation and oil & gas industries. Headquartered in Westfield, Massachusetts, Midstate Berkshire features over 200,000 square feet of manufacturing space with the capacity to produce both large and small scale components. The company operations include more than 100 state-of-the-art, multi-axis CNC machines, handling volumes ranging from prototyping to full-scale production. In addition to a highly skilled and experienced workforce, Midstate Berkshire has a reliable network of materials, processing and testing companies enabling them to provide their customers with the fastest, cost-effective, turnkey solutions with uncompromising quality, precision and component performance.
About Insight Equity
Insight Equity (www.insightequity.com) is a private equity firm that makes control investments in strategically viable, middle market companies underperforming their full potential. Insight Equity’s experienced principals have acquired and managed businesses with over $4B in aggregate revenue since 1998. The firm leverages a proven collaborative value creation model to facilitate operational improvements leading to significant cash generation, growth and attractive investor returns. Insight Equity’s headquarters is located near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City.