Precision Aerospace Holdings, LLC Acquires Owens Machine and Tool Company

DALLAS (May 7, 2024) —Dallas-based Precision Aerospace Holdings LLC (Precision), a leading manufacturer of precision machined aerospace and defense components, has acquired Owens Machine and Tool Company (Owens). Precision was formed through the partnership of two Dallas-based private investment firms, CIC Partners (CIC) and Juniper Capital Management (Juniper).

Owens produces complex, multifaceted parts, tooling and prototypes utilizing multi-axis machine tools and best-in-class cutting tools. It was established in 1986 to develop and sell complex machine components, primarily to the aerospace and defense industries. Owens is located in Lewisville, Texas and specializes in CNC machining of titanium and nickel alloys.

“We are thrilled to add Owens to Precision’s growing platform,” said Pete Stegmaier, Precision’s CEO. “The Owens team has deep experience that expands our broad capabilities to provide world-class service to aerospace and defense industries. We expect to continue their exciting growth trajectory.”

The transaction marks Precision’s second acquisition in less than 10 months. In June 2023, Precision acquired Decatur Machine Services, Inc. located in Decatur, Texas. The new additions build on the success of the previous two acquisitions of Applegate EDM, LLC and Icon Machine Co. in 2022. Precision now owns four companies in the Dallas-Fort Worth metroplex with a total of 110 employees. All businesses are AS9100 and ITAR certified.

“We have built an impressive platform in North Texas centered on operational excellence and a commitment to best-in-class customer performance marks,” said Bayard Friedman, Precision board chairman and managing director with CIC Partners. “These fundamental attributes will allow us to continue to scale the Precision platform and be a key supplier to a growing list of major defense programs.”

Precision will continue to aggressively target investment opportunities in North Texas and surrounding states.

“We are extremely proud of the operating companies we have assembled under the Precision platform,” said Bryan Grabowsky, co-founder and managing partner at Juniper. “The enhanced capabilities and product offerings as well as the strong operational leadership we have added with Owens will be instrumental as we continue to build on opportunities to be a value-added supplier to leading defense and aerospace companies.”

Terms of the deal were not disclosed.

Baker Botts L.L.P. represented Precision in connection with the transaction. 

About Precision Aerospace

Precision Aerospace is a privately held aerospace manufacturing business focused on hard metal and tight tolerance product manufacturing for the defense and space end markets. For more information, please visit

About Juniper Capital Management

Juniper Capital Management is a Dallas-based private equity firm focused on investing in manufacturing, industrials, business services, and residential services companies. Juniper’s primary strategy involves supporting smaller-scale businesses (EBITDA <$8M), a space that institutional private equity has traditionally overlooked; the firm strives to create value through the investment teams’ hands-on operating experience and deep understanding of the challenges faced by business owners as they approach the next phase of growth. Juniper seeks to continue the legacies of family/founder-owned companies, partnering with management to institutionalize replicable processes, implement data-driven systems, and expand the team in preparation for scale. For additional information, please visit

About CIC Partners

CIC Partners is a middle-market private equity firm that invests in growth-oriented companies primarily in the food, restaurant, industrial, and energy industries. CIC manages the personal capital of its investment team, operating partners and strategic investors and seeks to partner with owner-operators, founders and management teams. CIC looks for opportunities where it can leverage the collective experience of its investment team and its operating partners, who are successful CEOs and entrepreneurs, to guide, support and add value to portfolio companies. Based in Dallas, Texas, the firm has been generating wealth in private equity investing for its investors and management teams for over 30 years. For additional information, please visit