DATE: July 12, 2021
Who is Our Client?
- Panek Precision Products Company is a manufacturer of precision machined metal components and sub-assemblies for original equipment manufacturers.
- Founded over 75 years ago by Chester Panek in Chicago, Panek Precision is a third-generation family-owned and operated company.
- The company’s primary capabilities as a machine shop include CNC machining, multi-spindle screw machining, precision tube cutting, metal forming, 4-slide stamping and centerless grinding. Panek Precision’s secondary capabilities include broaching, assembly, tapping, honing, lapping, milling and thread rolling.
- Panek Precision specializes in delivering rapid turnaround and unmatched quality for manufacturers across a range of industries, including automotive, military, garage access & security, controls and automation, cable connectors, marine and aerospace.
- Panek Precision is AS9100D with ISO 9001:2015 certified and employs extensive quality control measures including APQP planning, statistical process control, an in-process inspection of parts to a C=0 sampling plan, and monitoring of production defects to determine their cause and eliminate them.
- Panek Precision is an early adopter and industry leader in robotic automation, with 60+ robots on the floor of their 106,000 square foot manufacturing plant in Northbrook, IL.
Why Did Panek Precision Products Company Hire Nolan?
- The owners of Panek Precision engaged Nolan to sell the business to a strategic buyer or private equity investor to facilitate estate planning for ownership.
- Ownership was drawn to Nolan’s track record of industry M&A experience in the manufacturing and industrial space.
What Value Did Nolan Deliver?
- Nolan’s competitive sale process delivered St. Louis-based private equity firm Holleway Capital Partners.
- “For over 75 years, Panek Precision has built a reputation as a trusted, valued partner to its customers by focusing on delivering quality products on time and solving customers’ problems. Holleway Capital Partners is delighted to partner with Brian, Gregg and the leadership team to continue building on the foundation the Panek family has established,” said Wes Hampp, Co-Founder and Managing Partner at Holleway Capital Partners. “Panek’s reputation for manufacturing complex parts in large volumes is a true differentiator and the organization’s culture is focused on delivering exceptional quality parts and exceptional customer service.”
- Holleway targets investments in manufacturers and distributors of industrial products with $10 million to $100 million in sales and located in the central and southern regions of the United States.