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FOR IMMEDIATE RELEASE Cronus Partners LLC Pleased to Announce Sale of Precision Metal Products to HBD IndustriesNorwalk, CT – May 17, 2007. Cronus Partners LLC is pleased to announce the sale of Precision Metal Products, Inc. (“PMP”) to HBD Industries, Inc. (“HBD”). Cronus Partners initiated the transaction and acted as the exclusive financial advisor to PMP, a privately held company located in El Cajon, California. PMP is a leading niche contract manufacturer of net and near-net shape forgings and precision-machined components from high performance materials. For over 40 years, PMP has delivered specialized value to orthopedic device OEMs for hip, knee, shoulder and elbow implants and related surgical instruments and to aerospace and defense contractors and OEMs for military applications. Closed on May 8, 2007, the transaction will enable HBD, a manufacturer of industrial products sold to leading distributors, OEMs and end users worldwide, to expand and leverage its customer base and manufacturing capability offerings. About Cronus Partners Advising on mergers, acquisitions, divestitures, sales, and private placement financings, Cronus is an independent investment banking firm that provides financial and strategic advisory services. The clients of the firm are publicly traded or privately owned companies that engage in middle-market transactions domestically or internationally. For further information please contact:
Cronus Partners LLC |
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