ARCH Global Precision Sells ARCH Precision Components
ARCH Global Precision will sell ARCH Precision Components, which will operate as a stand-alone company. ARCH Medical and ARCH Cutting Tools will remain under the ARCH Global Precision umbrella.
ARCH Global Precision LLC, a manufacturer of precision-machined components, medical instruments and implants and consumable cutting tools, has announced the sale of ARCH Precision Components Corp (ARCH PC). The company entered the agreement, along with its majority shareholder, The Jordan Company L.P., to sell ARCH PC to funds affiliated with Madison Dearborn Partners LLC (MDP).
“We are pleased to have found the ideal new home and investment partner for the ARCH PC business,” said Eli Crotzer, president and CEO of ARCH who, upon completion of the transaction, will join the board of directors of the new ARCH PC standalone company. “MDP understands ARCH PC’s business, its customers and the markets it serves, and I am confident that ARCH PC will continue to grow as a newly-independent company.”
ARCH PC produces precision-machined components for manufacturers in the aerospace and defense, transformative technologies and industrial markets. As a stand-alone company, ARCH PC will pursue a customer-centric growth strategy focused on investing in its capabilities, capacity and people. Upon completion of the transaction, ARCH, with the ongoing support of TJC, will consist of its remaining two segments: ARCH Medical Solutions and ARCH Cutting Tools.
Andy Spiering, ARCH PC’s divisional president, will become CEO of the stand-alone company at the completion of the transaction. Spiering commented, “I am proud of the platform we’ve built and grateful for the support we’ve received from TJC. I’m also thankful for the ongoing support of our customers and employees and am excited for our future as an independent company that has the support of an experienced industrial investor like MDP. ARCH PC will be focused on continuing to deliver high-quality and industry-leading components to our customers.”
Drew Macha, a director with MDP’s Basic Industries team, said, “The ARCH team has created a tremendous precision components business with an unwavering commitment to customer excellence. We look forward to building upon this strong foundation and helping ARCH PC expand its industry-leading capabilities in its dynamic and rapidly growing end-markets.”
Completion of the transaction, which is expected to occur in the second quarter of 2021, is subject to the satisfaction of customary closing conditions.