Advanced Precision Products, Inc., a portfolio company of Hastings Equity Partners, LLC, has completed a leveraged recapitalization with Middlesex. The proceeds from the recapitalization were used to fund a dividend to APP’s shareholders. Advanced Precision Products, Inc., a portfolio company of Hastings Equity Partners, LLC, is a provider of tight tolerance, precision machined components and assemblies for the medical, defense, aerospace, oil & gas, automotive and general industrial end markets.
APP specializes in mission critical components that are designed for demanding operating environments, such as oil rigs, automotive transmissions, surgical instruments and aerospace clutch components. APP is headquartered in Palmer, Massachusetts.
Middlesex Savings Bank, based in Natick, Massachusetts, was founded in 1835 and has over $4 billion dollars in assets.