PRESS RELEASE: Petersen Inc. Acquired by Precinmac
Ogden, Utah – April 4, 2022 – Petersen Incorporated announced today that it has signed a definitive agreement to be acquired by Precinmac, a leading diversified manufacturer of high-tolerance precision machined components and assemblies headquartered in South Paris, Maine. Terms of the transaction were not disclosed.
“We are excited that Precinmac recognizes Petersen Inc. as a worldwide industry leader in specialized fabrication, precision machining and advanced manufacturing services,” stated Steve Petersen, Chairman of the Board and founding member of Petersen Inc. “We have been very fortunate in our 61-year history to build a company that provides exceptional products and services- and the credit for our success goes to the industry’s very best and brightest team members that show up every day at Petersen Inc. to perform their jobs at the highest level” added Petersen.
With facilities in the United States and Canada, Precinmac’ s values are based on quality, flexibility, and precision. The acquisition of Petersen Inc. will be the eighth company in the Precinmac portfolio.
“We are excited to continue our expansion by adding another best-in-class large format business which serves the technical needs of the market,” said Eric Wisnefsky, CEO of Precinmac. “This business is complimentary to the recent acquisition of Major Tool and Machine which was added to our portfolio in September of 2021. When we started our due diligence to acquire Petersen Inc., we immediately recognized they had the same values as Precinmac when it comes to fabrication and manufacturing,” stated Wisnefsky. “Petersen’s unwavering employee commitment and dedication to partners, customers, subcontractors, and suppliers show a fundamental belief that delivering the very best product possible is the only option. In addition to the quality work produced every day, there is a fundamental belief and ability to align their goals with customers’ goals to achieve and deliver a lasting positive impact in the communities in which they work and live” added Wisnefsky.
Petersen Inc. was established in 1961 in Ogden, Utah and has grown to over 1.2 million square feet, with a second location in Pocatello, Idaho- and more than 500 team members. The company delivers the highest quality, on-time products, and serves many diverse industries such as aerospace, entertainment, hydro, industrial, mining, nuclear, and petrochemical. Petersen Inc. manufactures everything from roller coasters to heavy duty mining equipment, complex melters, gloveboxes, and dry fuel storage casks for the nuclear industry- down to small, intricate machined parts that fit in your hand for the aerospace industry.
Precinmac is a leading diversified manufacturer of high-tolerance precision machined components and assemblies. The Precinmac brand represents a family of eight operated companies in the United States and Canada. Precinmac offers a single-source solution for precise, high-quality, flexible and on-time manufacturing to top-tier customers globally, with a dedication to customer service, operational excellence, and continuous improvement.