Precision is the world's largest provider of aerosol valves and a global leader in dispensing systems for consumer and industrial applications. Founded in 1949, Precision has over 700 customers that include companies such as Proctor and Gamble, Unilever, L'Oreal, SC Johnson, Avon and Johnson & Johnson. The Company is headquartered in Yonkers, New York with global operations in over 10 countries.
Commenting on the transaction, John Abplanalp, President & CEO of Precision, said:
"MML provided much more than capital in this refinancing by adding significant value throughout the process. They worked closely with the Company and were flexible in their approach to structuring the financing to fit the needs of Precision."
Shawn St. Jean, a managing partner at MML added:
"We are very pleased to have closed this financing for Precision, the global leader in their industry. We look forward to building a long term partnership with the Company as a transaction of this nature lends itself to MMLs transatlantic and pan-European capabilities."
MML's legal advisor on the transaction was Porter & Hedges, LLP. Precision was advised by Veneruso, Curto,Schwartz, & Curto.