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Slide #47. Precision Castparts Corp. — Klune Industries
Precision Castparts Corp. (PCP)
Vance Street acquired a majority interest in Klune Industries in early 2010 and undertook a number of initiatives to improve operations. This included bolstering the management team, integrating a strategic acquisition which significantly increased content on key commercial aerospace platforms such as Boeing 787, 737 and 777, streamlining manufacturing processes through the implementation of Six Sigma protocols, and paying down the company's debt burden. These activities served to nearly double revenue and significantly increase profitability, ultimately making the company an attractive acquisition for Precision Castparts. The sale of Klune to Precision Castparts is the first from Vance Street's current fund.
Vance Street Capital, LLC (Private Equity)
Precision Castparts is a manufacturer of metal components and products, provides investment castings, forgings, fasteners/fastener systems and aerostructures for aerospace and power applications. Co. has three segments: Investment Cast Products, which manufactures investment castings for aircraft engines, industrial gas turbine (IGT) engines, airframes, medical implants, armament, and unmanned aerial vehicles, among others; Forged Products, which manufactures forged components for commercial and military aircraft engines and IGT; and Airframe Products, which develops and manufactures fasteners, fastener systems, aerostructures and precision components, primarily for aerospace applications.
Open the PCP Page at The Online Investor »
Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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