Precision Castparts buys Kent subcontractor
Precision Castparts buys Protective Coatings of Kent for an undisclosed amount.
By Seattle Times staff
Portland-based Precision Castparts has acquired Protective Coatings of Kent, a 300-employee firm that applies finishes to aerospace parts and other products.
Pro-Coat, as it’s known, was sold by the sons of its two founders, said Bill Hanneman, president of investment banking firm Zachary Scott, which represented the company. The price was not disclosed.
Precision Castparts, with sales of $7.2 billion last year, has acquired quite a few aerospace subcontractors in the region that were customers of Pro-Coat, said Hanneman. Precision last month also completed a much bigger deal, the $2.9 billion purchase of Dallas-based Titanium Metals.