{"id":2759,"date":"2015-05-01T15:00:54","date_gmt":"2015-05-01T15:00:54","guid":{"rendered":"https:\/\/mmlcapital.com\/sale-of-precision-valve-provides-another-successful-exit-for-mml\/"},"modified":"2021-09-15T09:51:09","modified_gmt":"2021-09-15T08:51:09","slug":"sale-of-precision-valve-provides-another-successful-exit-for-mml","status":"publish","type":"post","link":"https:\/\/mmlcapital.com\/fr\/portfolio-company-news\/sale-of-precision-valve-provides-another-successful-exit-for-mml\/","title":{"rendered":"Sale of Precision Valve provides another successful exit for MML"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Precision is one of the world\u2019s largest producers of valves, actuators and related dispensing solutions. Founded in 1949 by Robert Abplanalp, the inventor of the modern aerosol valve, Precision\u2019s unmatched global footprint serves over 2,000 customers that include multinational consumer packaged goods companies such as SC Johnson, Unilever, RB, P&amp;G, and Beiersdorf. The Company is headquartered in New York with operations in sixteen countries.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MML\u2019s creative approach in providing a multi-step recapitalization of Precision gave the Company the financial stability required to execute on its business plan and affirm its position as a leader in the industry. MML\u2019s transatlantic capabilities, structuring approach, and board control, provided the experience and flexibility to solve the Company\u2019s needs. As part of the recapitalization, Sound Harbor Partners invested in both the senior debt and preferred equity and served as an observer to the board.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under MML\u2019s ownership senior financing was provided by Comvest Partners, with additional working capital support at the local subsidiaries from numerous banks around the world, including PNC Bank in the US.<\/p>\n\n\n\n<h6 class=\"wp-block-heading\">Commenting on the transaction, Robert M. Davies, Managing Partner at MML said:<\/h6>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cIn evaluating this restructuring, we realized from the outset that Precision\u2019s strong legacy and market presence created significant competitive advantages. This proprietary transaction highlights our ability to build enterprise value through investing in complex situations. This realization has provided an excellent return for MML and its partners, and has given Precision the opportunity for continued success.\u201d<\/p><\/blockquote>\n\n\n\n<h6 class=\"wp-block-heading\">Outgoing Chairman John Abplanalp added:<\/h6>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cI\u2019m grateful that MML recognized Precision\u2019s strengths when we faced significant challenges following the global recession. Their support has allowed the business my father founded over 65 years ago to continue to be a leader in the industry.\u201d<\/p><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Lazard Middle Market served as exclusive financial advisor to Precision Valve, with Lloyd Rothenberg, partner at Loeb &amp; Loeb, providing legal counsel to the Company. MML was advised by Chris A. Ferazzi, partner at Winston &amp; Strawn. The founder\u2019s family was advised by William P. Harrington, partner at Bleakley Platt &amp; Schmidt and Steven M. Manket, partner at Davis &amp; Gilbert.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MML Capital Partners has exited its investment in Precision Valve through a sale of the Company to an affiliate of Peak Rock Capital.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[52],"class_list":["post-2759","post","type-post","status-publish","format-standard","hentry","category-portfolio-company-news","tag-precision"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sale of Precision Valve provides another successful exit for MML - MML Capital<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mmlcapital.com\/portfolio-company-news\/sale-of-precision-valve-provides-another-successful-exit-for-mml\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sale of Precision Valve provides another successful exit for MML - 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