“It’s been great to work with the Calder team. Logan is unmatched in his tenacity for bringing us qualified leads. He balances persistence and professionalism throughout the process. In many instances, he’s the first touch point of our firm’s brand with prospective future partners, and he does a good job representing us. And, Jon has been a reliable thought-partner for us as we evaluated dozens of opportunities. In addition to finding qualified leads, Calder helped us establish informed valuations and offer letters, helped negotiate many of the details that must be addressed in a deal, and even helped us say ‘no’ to deals that weren’t right for us.”
– Jonathan Reinemund, Managing Partner, Highline Group, Denver, CO (Buyer)
“Working with Calder was a top-notch experience. Jon and Logan spent countless hours with our team, coordinating this deal and seeing it through to the finish line. The Calder team took the time to guide us through diligence, ensuring a clear understanding of this complex process.”– Nick Preece, Founder, Preece Machining & Assembly, Boulder, CO (Seller)
Calder Capital, a nationwide Mergers and Acquisitions advisory firm, is pleased to announce the successful acquisition of Preece Machining and Assembly, Inc. (“PMA”) of Boulder, Colorado, by Highline Group of Denver, Colorado.
Highline Group is a single-family office, comprised of strategic operators who provide patient capital and on-the-ground management to manufacturing businesses across a variety of industries. The group makes control investments in companies whose owners seek liquidity and want to ensure the company’s long-term success. Their buy-hold-and-grow approach focuses on honoring legacy while driving operational and strategic expansion. Steve and Jonathan Reinemund of Highline Group engaged Calder Capital’s Buy-Side team as they construct a portfolio of well-established businesses that thrive through collaborative leadership and best-in-class operational practices.
Founded in 2018 by Nick Preece, Preece Machining & Assembly provides precision machining services for aerospace and commercial customers across the United States. With AS9100D and ISO 9001:2015 certifications, PMA delivers high-quality, thoroughly inspected components for clients across the defense and aerospace sectors.
“We’re focused on manufacturing businesses along the Front Range in Colorado, and we were thrilled to find PMA. We like this company because they make high-quality parts for strategically important, mission-critical industries. Most importantly, their leadership is top-notch, and we are excited to help them scale so they can continue to meet the growing needs of their customers,” shared Jonathan Reinemund.
“As we look to scale, we’re thrilled about our partnership with Jonathan and Steve at Highline Group,” shared Preece. “Their expertise will serve as rocket fuel, accelerating PMA’s growth and getting us to our goals faster. We’re energized by this new chapter and eager for what’s ahead!”
Jon Pastoor of Calder Capital served as the Lead Mergers & Acquisitions Advisor to Highline Group. Serving as Lead Buy-Side Director was Hannah Nabhan, and Lead Buy-Side Associate was Logan Granger of Calder Capital.
Throughout the engagement, Calder generated 76 proprietary off-market leads, resulting in 39 introductions, 16 calls, 4 offers submitted, and 1 closed deal between Highline Group and Preece Machining & Assembly. The process moved from engagement to close in approximately eight months, which included 63 days between LOI and close.
Jonathan Reinemund commented, “It’s been great to work with the Calder team. Logan is unmatched in his tenacity for bringing us qualified leads. He balances persistence and professionalism throughout the process. In many instances, he’s the first touch point of our firm’s brand with prospective future partners, and he does a good job representing us. And, Jon has been a reliable thought-partner for us as we evaluated dozens of opportunities. In addition to finding qualified leads, Calder helped us establish informed valuations and offer letters, helped negotiate many of the details that must be addressed in a deal, and even helped us say ‘no’ to deals that weren’t right for us.”
Preece shared, “Working with Calder was a top-notch experience. Jon and Logan spent countless hours with our team, coordinating this deal and seeing it through to the finish line. The Calder team took the time to guide us through diligence, ensuring a clear understanding of this complex process.”
“Working with the Highline team was a pleasure,” stated Pastoor. “Their commitment to finding the right fit and building a relationship with Nick and Tanner was clear from the start. We are very confident that this partnership will allow PMA to do more for their clients and employees, and we’re excited to see the success that this team will undoubtedly have.”
“Highline’s acquisition of Preece Machining and Assembly is truly a stellar partnership in the making,” commented Sam Scharich, Calder Capital’s Buy-Side Managing Director. “Our Buy-Side clients are guaranteed 10 introductions with sellers that meet their criteria; for the case of Highline Group, we were pleased to source and introduce them to 39 off-market, proprietary targets. Preece is an attractive company with strong performance, a talented team, and diverse end-markets including defense and aerospace customers.”
Calder Capital served as the exclusive Buy-Side Mergers and Acquisitions Advisor to Highline Group. Jim Fipp of BHGR Law served as legal counsel to the buyer, while Kirk Domescik of Duane Morris LLP represented the seller.
About Preece Machining and Assembly:
Preece Machining & Assembly, founded in 2018 in Boulder, Colorado, provides precision machining services for aerospace and commercial customers across the nation. With AS9100D and ISO 9001:2015 certifications, PMA combines advanced machining capabilities with the responsiveness and personal service of a small shop. The Company prides itself on rapid quoting, ITAR compliance, and delivering thoroughly inspected, high-quality parts. To learn more, please visit www.MachineAndAssembly.com.
About Highline Group:
Highline Group, based in Denver, Colorado, is a single-family office that makes control investments in businesses in the manufacturing sector, providing patient capital and operational leadership to drive performance and support long-term business growth. To learn more, please visit www.HighlineGroupCo.com.
About Calder Capital:
Founded in 2013, Calder Capital is a cross-industry mergers and acquisitions advisory firm with offices across the United States. Calder provides valuation, sell-side, and buy-side services. We are nationally recognized for excellence in advising $1-100M enterprise value transactions in manufacturing, construction, distribution, and business services. Calder serves business owners, entrepreneurs, family offices, financial buyers, and investors. Learn more at www.CalderGR.com.
