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Hastings Equity Partners exits Advanced Precision Products

5 Sep 2014

apppPrivate equity firm Hastings Equity Partners has exited its investment in manufacturing business Advanced Precision Products to Precision Engineered Products.

Advanced Precision provides components and products to the oil and gas, medical, aerospace, automotive, military and commercial OEM markets.

The company operates facilities in Hingham and Franklin in Massachusetts.

Precision Engineered Products is owned by private equity firms The Jordan Company and Nautic Partners.

Hastings managing director Bruce MacRae said, “(CEO Jeff Buck) and his management team have done an exceptional job at building APP into one of the leading precision component manufacturers. Through the acquisition and integration of four companies, Jeff has created a robust manufacturing platform.”

Last month Hastings held a final close of $172m for its third energy fund after tapping into institutional LPs for the first time.

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