A Sun Valley-based precision manufacturing firm with deep ties to the aerospace and defense industry has scored local private equity backing.

Precision Aircraft Machining Co. Inc., or Pamco, has been acquired by Avem Partners, a private equity firm based in Manhattan Beach, with additional capital support from True West Capital Partners, prominent family offices and high-net-worth investors. Avem principals and several aerospace industry executives also put up significant investment. Financial terms were not disclosed.

The deal will advance Pamco’s scaled platform supplying source-controlled fluid conveyance fittings for some of the biggest names in aerospace and defense, including SpaceX, Boeing and Northrop Grumman.

“Joining the Avem platform represents an exciting next chapter for Pamco,” said Pamco President Kim Pisano in a news release. “The partnership with Avem will allow us to build on our strong foundation and continue to expand our capabilities and customer support.”

Avem will step in to help Pamco expand production, enhance efficiency and pursue both organic and inorganic growth opportunities. 

Nearly a decade of investments

Pamco, founded in 1980, is one of Avem’s four current portfolio companies. The private equity firm has invested in North American lower-middle-market aerospace and defense companies since 2017. 

“Pamco is a strong addition to our aerospace and defense manufacturing platform, with deep technical capabilities, a long history of quality performance, and a highly skilled team,” said Brian Leibl, partner at Avem, in the release.

The firm’s push to expand its footprint in the aerospace and defense sectors took a “pivotal step” last April, when the company announced it acquired Valencia-based FMI Aerostructure Inc. out of bankruptcy. Like Pamco, FMI has a history of supplying parts to major clients like Lockheed Martin Corp., Boeing Co., Northrop Grumman Corp. and Blue Origin.

Among Avem’s seven realized investments is Aero Pacific Corp., a Garden Grove-based aerospace supplier that provides assemblies and aerostructures to advanced aircrafts, including the Boeing 787 Dreamliner. The company sold to contract manufacturer ARCH Global Precision in 2019 and now operates as part of the Align Precision network.