KKSP machining sold to another investment group

GLENDALE HEIGHTS - The majority owner of KKSP Precision Machining LLC, a top North American manufacturer of precision metal components, has sold the company to a second investment group.

Mill Point Capital LLC, a private equity firm based in New York, has sold its majority interest in KKSP to Pine Grove Holdings LLC, an investment firm focused on companies with high engineering content.

Mill Point will maintain a minority stake in the Glendale Heights-based business going forward. Financial terms of the transaction were not disclosed.

Since its 2017 acquisition by Mill Point Capital, KKSP has experienced growth through the enhancement of technical capabilities, strategic mergers and acquisitions, and rapid expansion into the Northeastern U.S. region and catalog components market, the investment group said.

"By partnering with Pine Grove, and through Mill Point's continued involvement, this transaction demonstrates KKSP's ability to attract and work alongside preeminent investment partners to expand capabilities and services for its customers and deliver value to its investors. We look forward to the next phase of KKSP's evolution and working closely with Nelda J. Connors and Pine Grove," said Dave Dolan, president and CEO of KKSP Precision Machining. Connors is founder and CEO of Pine Grove Holdings.

Founded in 1968, KKSP has facilities in Illinois, Wisconsin, Michigan, Connecticut and Mexico. The company operates over 570 primary machines and produces over 350 million parts annually for a diverse customer base including the HVAC, fire suppression, appliance, defense, automotive, heavy truck, plumbing, medical and marine industries.